Dentists, Puns, and Money

Dentists often defer clinical and owner income into a 401(k), Profit Sharing Plan, or IRA during their peak practice years.


That's often a wise strategy to lower a dentist's lifetime tax bill.


But the IRS won't let a dentist avoid that tax bill forever. That's why its implemented something called Required Minimum Distributions beginning at a certain age.


If a dentist wants to play the long-term tax game to the best of their ability, it's critical they understand all the rules associated with RMD's.


In this episode Dentists, Puns, & Money, Shawn Terrell shares the 8 Most Frequently Asked Questions related to Required Minimum Distributions. 


Listen to learn more about: 
 
  • The age at which RMD's begin. 
 
  • How to calculate your RMD.
 
  • The penalty for NOT taking an RMD. 


Find out more about how our firm helps dentists exiting clinical with tax planning and income optimization by visiting our website, which is dentistexit.com.


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To download a free copy of the 2023 Tax Reference Guide, click here. 


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Dentist Exit Planning Resources:

Website: dentistexit.com

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What is Dentists, Puns, and Money?

Dentists, Puns, and Money is a podcast focused on two things: The financial topics relevant to dentists leaving clinical practice and the stories and lessons of dentists who have already done so.

1. The stories of dentists who have transitioned from full-time clinical dentistry.

2. The financial topics that are relevant for dentists making that transition.

If you’re a dentist thinking about your exit from clinical, and you’d like to learn from the experiences of other dentists who have made that transition, be sure to subscribe to your favorite podcast app.

Host Shawn Terrell also dives deep into the many financial components of exiting dentistry, including tax reduction strategies and how to live off your assets.

And, we try to keep it light by mixing in a bad joke… or two.

Please note: Dentists, Puns, and Money was previously known as The Practice Growth Podcast until March 2022.