Four Money Considerations for 2024 Year-End

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Dentists, Puns, and Money

Shawn Terrell

104 episodes

2 weeks ago

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.

All content for Dentists, Puns, and Money is the property of Shawn Terrell and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.

Entrepreneurship

Business,

Investing

Four Money Considerations for 2024 Year-End

Dentists, Puns, and Money

11 minutes

10 months ago

Four Money Considerations for 2024 Year-End

In this episode of Dentists, Puns, and Money, host Shawn Terrell discusses essential financial considerations for dentists as they approach the end of 2024. He emphasizes the importance of planning for taxes, including converting to a Roth IRA, understanding required minimum distributions, and utilizing tax loss harvesting strategies. Shawn also highlights the significance of being aware of income thresholds that could affect tax brackets and offers a downloadable checklist for listeners to help them stay organized during the busy holiday season.

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Takeaways

Consider converting some portion of tax deferred accounts to Roth IRAs before year-end.
Ensure required minimum distributions are taken to avoid penalties.
Tax loss harvesting can help offset gains in taxable investments.
Be aware of income thresholds that may affect tax rates.
Maximize contributions to health savings accounts and retirement plans.
Charitable contributions can be made in a tax-efficient manner.
Planning ahead can save money on taxes in the long run.
Utilize available resources and checklists for financial planning.
Stay informed about changes in tax laws and regulations.
The holiday season is a good time to review financial goals.

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Resources from Episode

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Dentist Exit Planning:

Website: dentistexit.com

Email Shawn at: shawn@dentistexit.com

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Sign-Up for Dentist Exit Email Newsletter

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