What to Lookout for when Tax Harvesting

What to Lookout for when Tax Harvesting

In this episode, host Shawn Terrell explores the concept of thinking fourth dimensionally in tax planning, using the analogy from Back to the Future to highlight the interconnectedness of financial decisions. He discusses how to avoid unintended consequences in tax harvesting and emphasizes the importance of comprehensive, forward-thinking strategies. ------------------------------- Episode Resource [https://fierce-teacher-3401.kit.com/5c4d519362]   ---------------------------------- Meet with Dentist Exit Planning Advisor: Schedule Discovery Meeting [https://dentistexit.as.me/discovery] ----------------------------------- About Dentist Exit Planning: Website: dentistexit.com [https://www.dentistexit.com/] Facebook Group for Dentists [https://www.facebook.com/groups/dentistretirementplanning] YouTube [https://www.youtube.com/@dentistexit/videos] Instagram [https://www.instagram.com/dentistexit/] LinkedIn [https://www.linkedin.com/in/shawn-terrell/] Sign-Up for Dentist Exit Email Newsletter [https://fierce-teacher-3401.ck.page/f9ca59abfe] Email Shawn at: shawn@dentistexit.com [%20shawn@dentistexit.com]

How to Tax Harvest

In this episode, host Shawn Terrell explains the mechanics of tax loss and tax gain harvesting, including when and how to implement it, with practical examples and considerations for maximizing tax efficiency. Whether you're investing in non-qualified accounts or planning for future dental practice transitions, understanding these concepts can significantly impact your financial efficiency. ------------------------------- Episode Resource [https://fierce-teacher-3401.kit.com/5c4d519362]   ---------------------------------- Meet with Dentist Exit Planning Advisor: Schedule Discovery Meeting [https://dentistexit.as.me/discovery] ----------------------------------- About Dentist Exit Planning: Website: dentistexit.com [https://www.dentistexit.com/] Facebook Group for Dentists [https://www.facebook.com/groups/dentistretirementplanning] YouTube [https://www.youtube.com/@dentistexit/videos] Instagram [https://www.instagram.com/dentistexit/] LinkedIn [https://www.linkedin.com/in/shawn-terrell/] Sign-Up for Dentist Exit Email Newsletter [https://fierce-teacher-3401.ck.page/f9ca59abfe] Email Shawn at: shawn@dentistexit.com [%20shawn@dentistexit.com]

What is Tax Loss and Tax Gain Harvesting?

In this episode, host Shawn Terrell breaks down the complex but powerful strategy of tax harvesting—both loss and gain—to help dentists optimize their long-term tax outcomes. Whether you're investing in non-qualified accounts or planning for future transitions, understanding these concepts can significantly impact your financial efficiency. ------------------------------- Episode Resource [https://fierce-teacher-3401.kit.com/5c4d519362]   ---------------------------------- Meet with Dentist Exit Planning Advisor: Schedule Discovery Meeting [https://dentistexit.as.me/discovery] ----------------------------------- About Dentist Exit Planning: Website: dentistexit.com [https://www.dentistexit.com/] Facebook Group for Dentists [https://www.facebook.com/groups/dentistretirementplanning] YouTube [https://www.youtube.com/@dentistexit/videos] Instagram [https://www.instagram.com/dentistexit/] LinkedIn [https://www.linkedin.com/in/shawn-terrell/] Sign-Up for Dentist Exit Email Newsletter [https://fierce-teacher-3401.ck.page/f9ca59abfe] Email Shawn at: shawn@dentistexit.com [%20shawn@dentistexit.com]

Roth IRA Conversion Warnings

In this episode, host Shawn Terrell discusses the common confusions surrounding Roth IRAs, particularly the differences between contributions and conversions.  He emphasizes the importance of understanding these differences, the irrevocable nature of conversions, and the tax implications involved.  The episode also highlights the need for accurate reporting on tax returns and offers resources for listeners seeking further information on tax rules and financial planning for dentists. ------------------------------- Episode Resource [https://fierce-teacher-3401.kit.com/5c4d519362]   ---------------------------------- Meet with Dentist Exit Planning Advisor: Schedule Discovery Meeting [https://dentistexit.as.me/discovery] ----------------------------------- About Dentist Exit Planning: Website: dentistexit.com [https://www.dentistexit.com/] Facebook Group for Dentists [https://www.facebook.com/groups/dentistretirementplanning] YouTube [https://www.youtube.com/@dentistexit/videos] Instagram [https://www.instagram.com/dentistexit/] LinkedIn [https://www.linkedin.com/in/shawn-terrell/] Sign-Up for Dentist Exit Email Newsletter [https://fierce-teacher-3401.ck.page/f9ca59abfe] Email Shawn at: shawn@dentistexit.com [%20shawn@dentistexit.com]

Timing Roth IRA Conversions

In this episode, host Shawn Terrell discusses how to think about timing Roth IRA conversions for a dentist who plans to exit from clinical dentistry.  He uses the analogy of a long bike ride on RAGBRAI as a way to think about ideal timing. The objective for dentists like Dr. Bill is strategic timing of Roth IRA conversions to minimize tax burdens. ------------------------------- Episode Resource [https://fierce-teacher-3401.kit.com/5c4d519362]   ---------------------------------- Meet with Dentist Exit Planning Advisor: Schedule Discovery Meeting [https://dentistexit.as.me/discovery] ----------------------------------- About Dentist Exit Planning: Website: dentistexit.com [https://www.dentistexit.com/] Facebook Group for Dentists [https://www.facebook.com/groups/dentistretirementplanning] YouTube [https://www.youtube.com/@dentistexit/videos] Instagram [https://www.instagram.com/dentistexit/] LinkedIn [https://www.linkedin.com/in/shawn-terrell/] Sign-Up for Dentist Exit Email Newsletter [https://fierce-teacher-3401.ck.page/f9ca59abfe] Email Shawn at: shawn@dentistexit.com [%20shawn@dentistexit.com]