Many physicians and dentists who maintain an independent practice have learned that sponsoring a qualified retirement plan through their business can be a great savings tool. Even though the stock market hasn’t performed as they might have desired over the past several years, doctors and owners of healthcare businesses are still able to put good […]
Reporting for Unclaimed Property
I recently had a client contact me about a check that had been issued to a participant in their retirement plan which had not been cashed. “My investment company said that I needed to file some report regarding this check. Can you help me?” Beginning in 2011 changes to the Uniform Unclaimed Property Act mandate […]
Small Business Healthcare Credit Calculator
Although the recently enacted health reform legislation will impose penalties on certain businesses for not providing coverage to their employees, most of our medical and dental client practices will not have to worry. That’s because they are considered “small business employers” who employ fewer than 50 employees and aren’t subject to the so-called “pay or play” […]
Keeping a Perspective: Stick to a Plan
A client came in my office the other day and indicated that he was moving all his money out of the market. “I’m sitting on the sidelines for now”, he said. “I’m just not comfortable with…” and then he went on to explain his position. Just as markets can move in extremes one way or […]
Navigating the Changes of the New Health Care Act
I took this picture of a dental office that doubles as a pharmacy on a recent trip to Honduras. I saw several medical offices during, what felt like, “roller coaster” taxi rides around the city of Tegucigalpa. Many were similar to this building except that the others I saw had a fence or a wall in […]
What You Need to Verify A Financial Hardship Distribution
Over the past 26 years of working with healthcare clients, I can’t remember a year where I received more phone calls from participants in retirement plans requesting a distribution due to financial hardship than last year. Upon receiving such a call, we would educate the client’s staff member on the consequences of a plan distribution […]