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St. Thomas Seminar
January 22-26, 2024
8:30AM-12:30PM, Daily

This seminar offers 5-days of tax, finance, and business related sessions. Whether you're just starting your career, in the middle of it, or nearing the finish line, these objectives are here to help you better navigate the ever-changing dental instustry so that you can achieving financial independence. Session descriptions are available on the agenda page.

• Monday: Financial Management for Practice Owners

• Tuesday: Maximizing Your Wealth

• Wednesday: Transitions: Secrets to Success Despite All the Change

• Thursday: Tax Saving Strategies and Legal Issues in Transitions

• Friday: Protecting Your Retirement

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You will face more decisions in the last few years of practice than at any other time throughout your career, and these decisions will be some of the most important you’ll ever make. Unfortunately, most doctors have neither the time nor the financial training to effectively address the numerous financial issues related to retirement. As a result, many doctors lose hundreds of thousands of dollars. Learn the leading edge strategies you need to develop a well-designed plan to ensure a successful retirement. Key topics include:

• When can you afford to retire?
• When and how to take retirement plan and IRA distributions
• Meeting cash flow needs in retirement
• Converting to tax-free Roth IRAs
• Methods to reduce taxes on the sale of your practice
• Social Security timing to maximize benefits

Recommended for doctors 5 or less years from retirement. If you are more than 5 years from retirement, please attend our Achieving Financial Independence course.

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With so much information about DSOs circulating, it’s important to have a comprehensive, unique, and unbiased look at what is really going on in the DSO space. To be certain, DSOs are an excellent option for many practice owners. However, it has also proven to be the wrong decision for many more. While selling to a DSO can be a lucrative financial decision, it’s not the only transition option to consider, and like with any choice, it’s right for some but not for others. This course is designed to provide objective advice to determine your practice’s true value and if selling to a DSO is right for you. In this presentation we will:

• Uncover the truth about the current market
• Discuss trends and the future of the DSO market
• Establish the steps to properly determine if a DSO is a good fit for you
• Provide an indepth study on deal terms
• Decipher the true value of the deal (as opposed to what is often being presented)
• Deep dive into the rollover equity component
• Review eyeopening case studies of real clients

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Are you paying too much and ending up with too little? This course will show you the current pertinent federal estate and gift tax rules (e.g. available exemption amounts, deductions, credits, tax rates, etc.). This course will also show you how to implement aggressive family tax planning strategies to dramatically slash taxes, as well as successful estate planning and various asset protection strategies, and how to avoid estate planning mistakes! Topics covered include:

• Current estate and gift tax rules
• Estate planning techniques for taxable and nontaxable estates
• Use of Family Limited Partnerships to slash taxes and protect assets
• Use of trusts
• Proper insurance coverages
• Disposition of IRAs and retirement plan accounts
• Lifetime gifting
• Marital Rights Issues

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Join the 5% of dentists who can afford to retire at age 65. Using these winning financial strategies, you can develop a game plan to increase your net worth, reach financial freedom, and reduce stress. This hard-hitting program contains “inside information” that you simply can’t find elsewhere - gleaned from over 30 years of working exclusively with the dental profession. Highlights include:

• Creative strategies to slash taxes
• Practice building and overhead control to boost profitability
• Winning saving and debt reduction strategies
• How to cut children’s educational costs by 50% or more
• Ways to save thousands in unnecessary insurance costs
• Tax-deductible retirement savings strategies
• How to maximize tax-free income
• Strategies for increasing business tax deductions

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As your practice starts to hit its stride, it’s important to begin planning for the long-term goal of achieving financial independence.  This 2-day program will help you get and stay on track with building blocks for a successful career.  Our top advisors share guidance for building and growing a practice in today’s changing dental economy, as well as personal planning advice for laying the foundations for long term financial security and peace of mind.  Featured topics include

• Growth and Long-Term Transition Strategies
• Partnerships 101
• Overhead/Budgeting
• Role of PPOs
• Targeting Retirement Goals
• Educational Planning
• Tax Avoidance
• Tax Efficient Investment Strategies

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This fast-paced course is full of proven strategies our clients have used to build their practice and achieve financial independence. Our 3-day condensed program will cover vital topics you need to know to reach your financial goals from debt-reduction to improving investment returns to increasing your practice's sale value. Learn from our team of experts - tax attorneys, CPAs and CFP® professionals with over 100 years of combined experience working exclusively with dentists, in this new innovative seminar. Highlights include:

• How to increase savings for retirement on a tax-deductible basis
• Creative strategies to slash taxes and increase business tax deductions
• Winning debt-reduction and savings strategies
• Proper asset allocation, portfolio design, and investing strategies to avoid common costly mistakes
• Timing your transition to maximize benefits and minimize taxes
• How to increase your practice's sale value
• Determine how much you will need to retire and how to meet your cash flow needs in retirement
• Social Security timing to maximize benefits

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When it comes to managing their wealth, doctors often don’t know where to turn for sound financial advice. Even before graduating dental school, most doctors have already had their first interaction with a “financial expert” looking to help them. This course will guide you through the principles of slashing taxes, increasing your savings, and using data and academia to understand investing returns. Topics covered include:

• Tax efficient investing
• Increasing tax-deductible retirement plan contributions
• Slashing your taxes with Roth IRA conversions
• Understanding market pricing
• Drivers of investment returns
• Practicing Smart Diversification
• Managing emotions and avoiding market timing
• Principles of Dollar Cost Averaging
• Minimizing fees and expenses

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You’ll face more decisions in the last few years of practice than at any other time throughout your career, and these decisions will be some of the most important you’ll ever make. And unfortunately, there aren’t any mulligans when retiring and selling your practice. Since most doctors need the income generated from the sale of their practice to take them over the finish line into financial independence, you can’t afford to get it wrong. Ensure a successful retirement by learning the leading-edge strategies needed to develop a well-designed game plan that will help you approach your transition, and this next phase of your life, with confidence.

Key topics include:

• When can you actually afford to retire?
• Easy ways of increasing your practice marketability leading up to a transition.
• Pros and cons of various alternative transitions: selling to a DSO versus an individual doctor.
• How to position your practice to optimize your transition outcome.
• Methods to reduce taxes on the sale of your practice. Meeting cash flow needs in retirement.
• When and how to take retirement plan and IRA distributions.
• Social security timing to maximize benefits.

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Unfortunately, most doctors have neither the time nor the financial training to effectively address the numerous financial issues related to retirement, resulting in paying too much and ending up with too little. Learn the leading edge strategies you need to develop a well-designed plan to ensure a successful retirement. This course will teach you how to effectively address the numerous financial issues related to retirement, including basic estate planning and tax strategies, to protect what you’ve worked hard for. Key topics include:

• When can you afford to retire?
• When and how to take retirement plan and IRA distributions
• Meeting cash flow needs in retirement
• Methods to reduce taxes on the sale of your practice
• Social Security timing to maximize benefits
• Estate planning techniques for taxable and nontaxable estates
• Disposition of IRAs and retirement plan accounts

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This course covers the various legal structures of practice transitions, the practical effects, advantages and disadvantages of each, as well the tax ramifications to each party. Learn about proper planning and structuring to avoid pitfalls, and how to optimize tax results for both buyer and seller. This program also addresses the various legal documents and the variety of issues common in practice transition negotiations, and more! Highlights include:

• Associateship and post-sale services agreements
• Practice sales, buy-ins, buy-outs, mergers, and dissolutions
• Purchase price allocation
• Seller financing and related issues (e.g. recapture)
• Related party rules
• Use of deferred compensation
• Real estate matters (e.g. sale, lease, right of first refusal, option to purchase, 1031 exchange)
• Restrictive covenants
• Buy-sell provisions among owners
• Income division among owners
• Life insurance, disability buy-out insurance, overhead insurance
• Entity selection

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Dentistry today is in the early stages of massive change in terms of practice values, new tax strategies, insurance reimbursement rates, PPOs, and the approaching retirement of Baby Boomers.  This course covers the various financial and legal structures of traditional (doctor-to-doctor) practice transitions, the practical effects, advantages and disadvantages of each, as well the tax ramifications to each party. Learn how to position your practice in order to understand all of these forces, as well as avoid costly pitfalls, and how to optimize tax results for both buyer and seller. This program also addresses the various legal documents and the variety of issues common in practice transition negotiations, and more. Highlights include:

• Where is dentistry headed?
• Rising practice values
• Timing your transition for maximum benefit
• Partnerships: buy-ins / buy-outs – secrets to successAssociateships and post-sale service agreements
• Drivers of fair market value and how to increase your FMV
• Tax reduction strategies and legal issues for practice sales
• Restrictive covenants
• Buy-sell provisions among owners
• Real estate matters (e.g. sale, lease, right of first refusal, option to purchase, 1031 exchange)

 

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Dentistry today is in the early stages of massive change in terms of practice values, new tax strategies, insurance reimbursement rates, PPOs, corporate dentistry, and the approaching retirement of Baby Boomers.  Learn how to position your practice in order to understand all of these forces and optimize your transition outcome, whether your transition plans are immediate, near-term, or further down the road. Just some of the topics covered at this entertaining and informative course are:

• Where is dentistry headed?
• PPOs, corporate dentistry, and shifts in payer sources
• Rising practice values
• Timing your transition for maximum benefit
• Partnerships: buy-ins / buy-outs – secrets to success
• Associateships: what determines success?
• Drivers of fair market value and how to increase your FMV
• Tax reduction strategies for practice sales

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