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Dentists, Puns, and Money
Dentists, Puns, and Money episodes
- 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.
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Episode Resource
----------------------------------Meet with Dentist Exit Planning Advisor:
Schedule Discovery Meeting
-----------------------------------
About Dentist Exit Planning:
Website: dentistexit.comFacebook Group for Dentists
YouTube
Instagram
LinkedIn
Sign-Up for Dentist Exit Email Newsletter
Email Shawn at: [email protected]
9 min - 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
----------------------------------Meet with Dentist Exit Planning Advisor:
Schedule Discovery Meeting
-----------------------------------
About Dentist Exit Planning:
Website: dentistexit.comFacebook Group for Dentists
YouTube
Instagram
LinkedIn
Sign-Up for Dentist Exit Email Newsletter
Email Shawn at: [email protected]
9 min - 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
----------------------------------Meet with Dentist Exit Planning Advisor:
Schedule Discovery Meeting
-----------------------------------
About Dentist Exit Planning:
Website: dentistexit.comFacebook Group for Dentists
YouTube
Instagram
LinkedIn
Sign-Up for Dentist Exit Email Newsletter
Email Shawn at: [email protected]
12 min - 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
----------------------------------Meet with Dentist Exit Planning Advisor:
Schedule Discovery Meeting
-----------------------------------
About Dentist Exit Planning:
Website: dentistexit.comFacebook Group for Dentists
YouTube
Instagram
LinkedIn
Sign-Up for Dentist Exit Email Newsletter
Email Shawn at: [email protected]
9 min - 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
----------------------------------Meet with Dentist Exit Planning Advisor:
Schedule Discovery Meeting
-----------------------------------
About Dentist Exit Planning:
Website: dentistexit.comFacebook Group for Dentists
YouTube
Instagram
LinkedIn
Sign-Up for Dentist Exit Email Newsletter
Email Shawn at: [email protected]
8 min - Potential Tax Benefits of Roth IRA Conversions for Dentists
In this episode, host Shawn Terrell discusses the financial implications of Roth IRA conversions for dentists nearing retirement, particularly focusing on how these conversions can mitigate tax burdens and provide greater control over retirement funds.
He explains the strategic advantages of converting deferred accounts to Roth IRAs, highlighting the long-term benefits of tax-free withdrawals and reduced required minimum distributions (RMDs).
Shawn also mentions the importance of tackling difficult tasks promptly, using the metaphor of 'eating the frog' to illustrate the benefits of making hard decisions while mitigating procrastination.
-------------------------------
Episode Resource
----------------------------------Meet with Dentist Exit Planning Advisor:
Schedule Discovery Meeting
-----------------------------------
About Dentist Exit Planning:
Website: dentistexit.comFacebook Group for Dentists
YouTube
Instagram
LinkedIn
Sign-Up for Dentist Exit Email Newsletter
Email Shawn at: [email protected]
8 min - Lower Retirement Taxes with RMD Planning
In this episode, host Shawn Terrell discusses the importance of planning for Required Minimum Distributions (RMDs) in retirement, using the analogy of a problematic driveway to illustrate the need for proactive financial strategies.
He emphasizes the consequences of not having a plan for RMDs, including higher taxes and implications for beneficiaries.
The conversation also touches on strategies to manage RMDs effectively to minimize tax burdens and ensure financial efficiency for both the individual and their heirs.
-------------------------------
Episode Resource
----------------------------------Meet with Dentist Exit Planning Advisor:
Schedule Discovery Meeting
-----------------------------------
About Dentist Exit Planning:
Website: dentistexit.comFacebook Group for Dentists
YouTube
Instagram
LinkedIn
Sign-Up for Dentist Exit Email Newsletter
Email Shawn at: [email protected]
12 min - Tax Diversification for Dentists in Retirement
In this episode, host Shawn Terrell discusses the importance of tax diversification for dentists nearing retirement.
He explains the four types of taxes on investments: ordinary income, deferred, capital gains, and tax-free.
Shawn emphasizes the benefits of diversifying across these tax types to minimize lifetime tax liability and maximize retirement options.
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Chapters
- 00:00:00 Introduction to Tax Diversification
- 00:00:00 Understanding Ordinary Income Tax
- 00:00:00 Deferred Tax Explained
- 00:00:00 Capital Gains Tax Overview
- 00:00:01 Benefits of Tax-Free Investments
- 00:00:01 Conclusion and Professional Advice
-------------------------------
Episode Resource
----------------------------------Meet with Dentist Exit Planning Advisor:
Schedule Discovery Meeting
-----------------------------------
About Dentist Exit Planning:
Website: dentistexit.comFacebook Group for Dentists
YouTube
Instagram
LinkedIn
Sign-Up for Dentist Exit Email Newsletter
Email Shawn at: [email protected]
13 min - Decoding The New SALT Deduction Under OBBBA
In this episode, host Shawn Terrell discusses the SALT deduction within the One Big Beautiful Bill.
Listen for insights into how the OBBBA impacts dentists planning their financial future post-clinical practice.
---------------------------------
Episode Resource:
https://tr.ee/zIM4M4
--------------------------------Meet with Dentist Exit Planning Advisor:
Schedule Discovery Meeting
---------------------------------
About Dentist Exit Planning:
Website: dentistexit.comFacebook Group for Dentists
YouTube
Instagram
LinkedIn
Sign-Up for Dentist Exit Email Newsletter
Email Shawn at: [email protected]
9 min - Understanding the $6,000 Tax Deduction in the OBBBA
In this episode, host Shawn Terrell delves into the One Big Beautiful Bill Act and its implications for those over 65.
It highlights the $6,000 tax deduction available via OBBBA to individuals 65 and older, the implications for Social Security taxation, and the potential for strategic tax planning.
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Chapters
00:00:00 Introduction to the One Big Beautiful Bill Act
00:01:42 Exploring the Tax Deduction for Seniors
00:03:16 Understanding the $6,000 Deduction
00:04:41 Phasing Out and Expiry of the Deduction
00:06:15 Strategic Tax Planning and Conclusion---------------------------------
Episode Resource:
https://tr.ee/zIM4M4
----------------------------------Meet with Dentist Exit Planning Advisor:
Schedule Discovery Meeting
-----------------------------------
About Dentist Exit Planning:
Website: dentistexit.comFacebook Group for Dentists
YouTube
Instagram
LinkedIn
Sign-Up for Dentist Exit Email Newsletter
Email Shawn at: [email protected]
9 min
About Dentists, Puns, and Money
From the publisher's feed
Dentists, Puns, and Money is a podcast focused on two things: The financial topics relevant to dentists leaving clinical practice and the stories and lessons of dentists who have already done so.
1. The stories of dentists who have transitioned from full-time clinical dentistry.
2. The financial topics that are relevant for dentists making that transition.
If you’re a dentist thinking about your exit from clinical, and you’d like to learn from the experiences of other dentists who have made that transition, be sure to subscribe to your favorite podcast app.
Host Shawn Terrell also dives deep into the many financial components of exiting dentistry, including tax reduction strategies and how to live off your assets.
And, we try to keep it light by mixing in a bad joke… or two.
Please note: Dentists, Puns, and Money was previously known as The Practice Growth Podcast until March 2022.