Is There a Doctor in the House?
9th Apr 2018
As our country looks for cost-effective healthcare solutions, telephone consultations with doctors are growing in popularity in the U.S. TelaDoc, one of the largest startups offering these services, contracts with several thousand independent medical practitioners who work from their home offices.
Last month, an Ameriprise financial advisor introduced us to a doctor in Missouri, age 43, who set up an S-corp. for his telephone practice and pays himself $140,000 in W-2. We designed a Defined Benefit retirement plan to which this physician will contribute $135,000 each year, 100% tax-deductible!
Are you a physician or medical professional who is looking for a small business retirement plan? As a doctor, a defined benefit plan may hold great appeal to you as an independent contractor or self-employed business owner because you can contribute and deduct more than other retirement programs. Many business owners will notice how impressively large benefits can be accrued quickly.