#162 Do Cash Balance Plans Help Physicians Balance What’s Paid In Taxes?
About this episode
The episode discusses cash balance plans and their potential tax benefits for physicians, along with answering listener questions on related financial topics.
If you’ve been working with a CPA this tax season, they may have recommended a cash balance plan. Generally, these plans can help docs like you save in taxes. Nate Reineke and Chelsea Jones look at one doctor in California who got that exact advice. We break down what exactly a cash balance plan is and how it can help when tax season rolls around. We also look at some factors that could indicate it’s just not the right time to start a cash balance plan. We also answer your colleagues' questions. A Pediatric Hospitalist in Virginia asks, “If my spouse has our children on her HSA-eligible health plan, and I also have an HSA-eligible plan, can we contribute more than the $8,750 family limit?” An OBGYN in Arizona says, “Should I buy points on my new mortgage? What are they and why are they being offered?” A GYN ONC in Oregon is buying their first home soon and is curious about physician loans. A Nephrologist in Pennsylvania wonders, “My spouse only makes 40k/year of self-employment income. Is it worth setting them up with a solo 401 (k)?” Are you ready to turn worries about taxes and investing into a plan for college and retirement? If you’re evaluating your options and want to learn…
More episodes of Physician Family Finances Podcast
- #171 Is Vanguard Really the Gold Standard for Physician Families?
- #170 The Coffee & Cream Trap: Why "Empty" IRAs Can Still Trigger a Massive Tax Bill
- #169 Is Physician Workplace Insurance Enough to Protect Your Family?
- #168 Why Your Physician Portfolio Doesn't Need to Be Busy
- #167 Are Physicians Itchy About High-Yield Savings Accounts?
- #166 Physician Mothers Need To Put On Their Oxygen Mask First
Explore listener stats, chart rankings, contacts and more on the Physician Family Finances Podcast podcast page.