Although most financial experts agree that it makes more sense to buy a home than rent an apartment, the pros and cons of office ownership aren't quite so clear-cut. Dentists and physicians need to weigh a variety of factors when making this important decision.
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The central theme of this series has been that, as crucial as asset protection is, physicians cannot afford to panic and bite at the first hyped-up scheme they receive from some "asset protection specialist." Sure, there are plenty of exotic (and expensive) strategies available to you, but Offshore Trusts, Captive Insurance Companies, Welfare Benefit Plans and Charitable Foundations should be employed only after you've exhausted the tried-and-true strategies at your disposal. Following is a discussion of several of these.
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When you assume ownership of a building, you also assume all of the liabilities that come along with it - everything from slip-and-falls in the lobby to non-compliance with the Americans with Disabilities Act.
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The Alliance of Specialty Medicine (ASM), a coalition of 14 national medical specialty societies representing more than 220,000 physicians, has wasted no time in setting its priorities before President Bush and the new Congress, including:
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The articles in this newsletter are general in nature and are not a substitute for accounting, legal, or other professional services. We assume no liability for the reader's reliance on this information. Before implementing any of the ideas contained in this publication, consult a professional advisor to determine whether they apply to your unique circumstances.
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