A FINANCIAL PLAN FOR YOUR NEW CAREER PATH

You’ve invested in your business, now it’s time to invest in yourself. If you are a new doctor who has recently bought into or acquired a new practice with existing patient flow, developing a custom plan early is essential for reaching your unique long-term goals.

This program includes CWA’s full business planning and personal financial planning services from a dedicated team of advisors, ready to help you leverage your new business to catapult your goals through a tax-advantaged savings strategy. With our Proactive Planning program, your financial future can begin with greater ease and reduced stress.

Business Planning

• Defining the corporate entity structure, which affects your current and future tax planning
• Establishing efficient debt structure to tackle your new debt strategically
• Implementing a tax-effective payroll structure, including spousal salary from the practice, when applicable
• Production analysis & goal setting for the practice
• Review of business loan(s) and appropriate fees
• Tax allocation for the acquisition of a new office
• Benefits of establishing a new corporation versus “taking over” an existing one
• Fee analysis, including discussion of insurance acceptance and profitability
• Practice insurance needs and cost
• Examination of direct and fixed expenses
• Practice break-even analysis
• Efficient pension plan design to maximize savings and minimize taxes
• Tax planning strategies on your business, including what to deduct and when
• Planning for practice expansion, transition or possible associate

Personal Financial Planning

• Personal budgeting for the household and financial goal setting
• Debt management and tax efficient debt reduction planning
• Personal income tax planning
• Detailed review of insurance coverage
• Education savings plan for dependent children and review of most advantageous investment choices
• Reviewing estate plans to ensure bases are covered for you, your spouse and your beneficiaries
• Analysis of other critical issues that are important to you
• Investment analysis and asset allocations designed to help you reach your goals within your risk tolerance