Financially Free Dentists

You've invested years into building your dental practice — are you doing enough to protect it? We're addressing the essential steps every dentist should consider, from financial safeguards to operational planning and succession strategies. You'll learn how to shield your practice from risk, maintain its value, and ensure long-term success, no matter what challenges arise. Whether you're just starting out or looking to strengthen your safety net, this episode is packed with practical advice every dentist needs.

Key moments:

(05:16) The financial safety nets every dental practice needs (but too many ignore) (10:06) You can't afford to skip life and disability insurance (18:12) Buy-sell agreements and succession planning to protect your practice's future (23:23) Cloud storage and disaster recovery are essential protections (27:00) Handling staffing and succession planning without the stress

Managing your finances doesn't need to be painful. Book a free intro call today. Just browsing? Learn more about us at SLP Wealth.

Like the show? There are several ways you can help!

• Follow on Apple Podcasts, Spotify, or Amazon Music
• Leave an honest review on Apple Podcasts
• YouTube at Financially Free Dentists

Learn how employment classification can make or break your financial plan as we explore the key differences between 1099 independent contractor roles and W-2 employee positions.

Special guest Kathleen Boyd, CFP®, CSLP®, CBDA, from the SLP Wealth dental planning team, joins us and shares expert insights on how each option affects your taxes, benefits, legal protections, and long-term financial goals. If you're an associate evaluating job offers or a practice owner deciding how to structure your team, tune in to discover how to choose the path that sets you up for success, both in your practice and your finances.

Key moments:

(03:35) If someone offers you the choice of being a "1099 employee," it's a red flag

(09:51) W-2 employees can save on taxes because employers pay half of FICA taxes

(13:50) Moving from W-2 to 1099 shifts tax responsibility, but it can benefit high earners

(18:53) 1099 associates can claim business deductions that W-2 employees can't

(24:39) Qualifying for a mortgage is harder for business owners than W-2 employees

Links mentioned in this episode:

• Independent contractor (self-employed) or employee?
• SEP IRA plans

Managing your finances doesn't need to be painful. Book a free intro call today. Just browsing? Learn more about us at SLP Wealth.

Like the show? There are several ways you can help!

• Follow on Apple Podcasts, Spotify, or Amazon Music
• Leave an honest review on Apple Podcasts
• YouTube at Financially Free Dentists

What does it take to achieve remarkable growth in your practice? We're joined by special guest Dr. Christian Mullin, a practice owner in Virginia Beach, who shares his inspiring journey of growing his practice's collections from $1.1 million to $1.85 million in just two years.

He walks us through his journey from Michigan to Virginia and the mindset shifts, strategies, and relentless pursuit of learning that fueled his success. From tackling operational challenges to rethinking patient care, his story is packed with insights for practice owners looking for sustainable growth. Tune in to get actionable takeaways and fresh perspectives on what's possible for your career in dentistry.

Key moments:

(04:50) Efficient scheduling is the backbone of practice success

(08:47) The moment he ruled out other paths and decided dentistry was the perfect fit

(14:45) A mindset shift in dental school sparked his interest in investing and practice ownership

(23:32) Practice ownership isn't for everyone (managing people is harder than the procedures)

(33:19) The one piece of advice he wishes he could give his younger self

Managing your finances doesn't need to be painful. Book a free intro call today. Just browsing? Learn more about us at SLP Wealth.

Like the show? There are several ways you can help!

• Follow on Apple Podcasts, Spotify, or Amazon Music
• Leave an honest review on Apple Podcasts

Still recovering from December's spending spree? If your finances could use a reset, we've got you covered. Enter "financial hibernation" — our go-to strategy for bouncing back after the holidays. Instead of vague New Year's resolutions, we're focusing on what really works for dental professionals who want to build wealth in 2024. Join Conor Mahlmann, CFP®, CSLP®, and Jake Courtney, CFP®, CSLP®, to explore 401(k) retirement options for practice owners and 1099 associates, tools like Monarch Money to make tracking your finances actually enjoyable (yes, really), and the "Financially Wrapped" approach to revamp your money habits. Plus, get the latest on retirement trends that are reshaping how dentists plan their financial futures. If you're ready to start the year strong, this episode is your reset button.

Key moments:

(02:22) Turn Spotify Wrapped into Financially Wrapped to uncover your 2024 money trends

(08:25) Dentists retire at 69, seven years later than the average for other professions

(13:35) Few dental practices have a 401(k), but practice owners and 1099 associates have options

(19:10) How the Backdoor Roth IRA lets high earners contribute beyond IRS income limits

(26:45) Tools to make tracking your savings rate simple and show progress over time

Links mentioned in this episode:

• Monarch Money

• IRS 401(k) and IRA contribution limits

Managing your finances doesn't need to be painful. Book a free intro call today. Just browsing? Learn more about us at SLP Wealth.

Like the show? There are several ways you can help!

• Follow on Apple Podcasts, Spotify, or Amazon Music
• Leave an honest review on Apple Podcasts

Depreciation isn't just what happens quickly to your new Cybertruck — it's a strategy that could save you thousands. Logan Foltz, MD, EA, tax manager at SLP Wealth and former physician, joins Conor Mahlmann, CFP®, CSLP®, and Jake Courtney, CFP®, CSLP®, to break down equipment depreciation and tax planning tips for dental practices and 1099 associates. You'll learn from real-world examples like depreciating an $80,000 CBCT machine, vehicle expense deductions, business vs. personal use, and airtight expense tracking for tax compliance.

We'll explore surprising things you might be able to depreciate, how to time purchases for maximum tax savings, tactics for high-profit years, how depreciation impacts your bottom line, and methods to make it work in your favor.

Key moments:

(07:22) Why a solid expense tracking system is your ticket to maximizing tax savings

(14:56) How your property type and depreciation life determine your depreciation schedule — plus recent tax law updates

(23:01) The hidden downside of early depreciation and the risk of a tax payback later

(28:05) Writing off your car and knowing the line between business and personal use to avoid IRS headaches

Managing your finances doesn't need to be painful. Book a free intro call today. Just browsing? Learn more about us at SLP Wealth.

Like the show? There are several ways you can help!

• Follow on Apple Podcasts, Spotify, or Amazon Music
• Leave an honest review on Apple Podcasts

You've taken the leap and bought your own dental practice — congratulations! Owning a practice is a huge milestone, but it also comes with a big question: what's next? Conor Mahlmann, CFP®, CSLP®, and Jake Courtney, CFP®, CSLP®, walk you through the key steps that will help you build a successful practice and keep your finances on track. But it's not just about the numbers. Great leadership and a strong vision are just as important as a solid financial foundation, and we cover that, too.

Key moments:

(05:35) The must-know basics of bookkeeping, LLCs, and managing your money

(16:37) The smart way to prioritize your practice loan and student loan payments

(24:49) No 401(k) in your new practice? Here's how to still plan for retirement

(33:07) Stop lifestyle creep in its tracks by mastering this one powerful savings strategy

Managing your finances doesn't need to be painful. Book a free intro call today. Just browsing? Learn more about us at SLP Wealth.

Like the show? There are several ways you can help!

• Follow on Apple Podcasts, Spotify, or Amazon Music
• Leave an honest review on Apple Podcasts

The election sparked uncertainty and possible changes, leaving many dentists wondering how to protect their financial future. Join financial planners Conor Mahlmann, CFP®, CSLP®, and Jake Courtney, CFP®, CSLP®, as well as special guest Travis Hornsby, CFA®, CFP®, to explore how the election could affect your personal finances.

Key moments:

(03:04) Self-care routines we use to recover from burning the candle at both ends (05:46) Why dentists need this podcast to help grow wealth (10:28) Get clarity on whether your student loan strategy needs to change post-election (15:14) What a second Trump term could mean for dentists' financial plans

Managing your finances doesn't need to be painful. Book a free intro call today. Just browsing? Learn more about us at SLP Wealth.

Like the show? There are several ways you can help!

• Follow on Apple Podcasts, Spotify, or Amazon Music
• Leave an honest review on Apple Podcasts

Buying or starting a dental practice is a major financial and professional commitment — and one of the best ways to grow your net worth while gaining work flexibility. But is it always the right move? Join financial planners Conor Mahlmann, CFP®, CSLP®, and Jake Courtney, CFP®, CSLP®, as they explore the top reasons not to buy a practice.

While we're strong advocates for dental practice ownership, we also know that the "perfect" practice on paper can sometimes turn into financial regret. Discover the common pitfalls and misconceptions that lead dentists to buy for the wrong reasons, and make sure your next big step is the right one.

Key moments:

(05:54) The asking price is too high, making it difficult to justify the value (12:37) Why location and lifestyle are just as important as the numbers (13:39) Lack of cash reserves can leave you vulnerable to unexpected expenses (17:52) If you're not comfortable with the uncertainty of owning a small business, think twice (24:36) Buying a practice can complicate future large purchases (like a home)

Managing your finances doesn't need to be painful. Book a free intro call today. Just browsing? Learn more about us at SLP Wealth.

Like the show? There are several ways you can help!

• Follow on Apple Podcasts, Spotify, or Amazon Music
• Leave an honest review on Apple Podcasts

Join me Conor Mahlmann, CFP®, CSLP® and my co-host Jake Courtney, CFP®, CSLP® on a journey for dentists eager to take control of their financial futures—without the pain of a dental drill! Each episode explores the unique challenges and opportunities in dentistry, offering insightful tips and plenty of laughs (because finance doesn't have to be boring).

From managing debt to smart investing to practice management, we cover everything essential and outrageous. Because financial health for a dentist is about crafting a career and lifestyle that makes you and your patients smile.

Whether you're an associate fresh out of dental school or a seasoned practice owner wanting to work fewer clinical hours, our practical advice and casual banter will get you on the right track. Subscribe now and join us every other week to learn how to make your money work as hard as you do—because getting your finances in shape doesn't need to feel like a root canal!