BOI Reporting Deadline: A Reminder for Physicians with an LLC
There is a new federal reporting requirement from FinCEN (the Financial Crimes Enforcement Network) that may apply to you if you own or control a private practice or other business (including having an LLC or PLLC that you use for 1099 work, locums, to hold a rental property, etc). This requirement, called Beneficial Ownership Information […]
Demystifying Tax Brackets: A Guide for Physicians
Navigating the intricacies of tax brackets can be challenging, especially for high-income physicians. In this blog post, we’ll demystify how tax brackets work, provide insights into tax planning strategies, and discuss common pitfalls physicians face when managing their taxes. Our goal is to equip you with the knowledge to make informed decisions, minimize tax liabilities, […]
Important Updates for Public Student Loan Forgiveness and Mohela Federal Student Aid Transition
There have been some important changes over the past few weeks regarding Public Student Loan Forgiveness (PSLF), and the advisors at Vestia here to help you navigate them smoothly! As many of you know, your loans have been in administrative forbearance since June while transitioning from Mohela to Mohela.StudentAid, and you should have received an […]
3 Creative Applications of a 401k Rollover
There are several benefits to going through a 401k rollover process – some of which can even save you money in the long-run! Let’s dive into three options and why it could make sense for doctors to initiate a rollover. When You Might Consider a 401k Rollover There are a few times that a 401k […]
Understanding The Wage Gap For Women Physicians, And What We Can Do About It
We’re continuing our Women’s History month celebrations with new content, just for women physicians. Today, we’re tackling the topic of the gender wealth gap. The gender wealth gap prevails in many trades; unfortunately, the medical industry isn’t immune. The good news? With the right strategies and team behind them, women physicians should be able to […]
What Type Of Retirement Plan Is Best For Your Orthopedic Practice?
You’ve decided to open your orthopedic practice—Congratulations! While building your patient base, hiring the right people, and practicing what you love, we believe keeping an eye on your (and your employee’s) future is essential. One potential way to do that is with the right retirement plan. Today we’ll review several popular retirement plan options and […]
Here’s What Physicians Should Consider Before Signing a Non-Compete Agreement in 2023
We believe physician contract negotiation is an essential step in your employment journey, but it can be overwhelming. You may notice non-solicitation or confidentiality agreements in the employment process, generally one of the most overlooked elements is a non-compete clause. Whether you’re about to sign your first contract or are considering a new position, physicians […]
What Should Doctors Do With Their Money Before Year End?
It feels great to check things off your list—but what should be on your year-end money list as a physician? Let’s look at the top money moves we believe physicians should consider before ringing in the new year.
5 Ways Women Physicians Can Plan For Longevity In Retirement
Women live about 5 years longer than their male counterparts, on average. This longevity gap means that women may need to pay extra attention to how they’re saving for retirement, so they have enough to feel financially secure and confident in their golden years. While you don’t know how long you’ll live, it can be […]
How Doctors Can Start Taking Advantage Of Their HSAs Today
A Health savings account (HSA) can be a powerful tool for long-term health savings and can even help you save for medical costs in retirement, which may come in handy down the line. A Fidelity study found that a 65-year-old couple retiring in 2022 would spend about $315,000 (after-tax dollars) on medical costs alone. An […]
