Search found 1323 matches

by gasdoc
Fri Feb 23, 2018 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay partners for working your call
Replies: 57
Views: 3191

Re: How to pay partners for working your call

gasdoc I'm curious how the national company comes in? Do they come to your group and make a friendly offer? Or go to the hospital for the contract, and then come to you? Sometimes the offers are friendly, but often they are not. These groups own the vast majority of the EM market and soon radiology...
by gasdoc
Fri Feb 23, 2018 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay partners for working your call
Replies: 57
Views: 3191

Re: How to pay partners for working your call

Just cut a check on Monday morning. The one taking the call takes more income (call cost) and pays the extra taxes as income. The one paying expenses it and deducts it. More W-2 for the call-taker. Less W-2 for the call-avoider. We own our own practice, so it's easy. Goodenyou, please elaborate. It...
by gasdoc
Fri Feb 23, 2018 6:31 am
Forum: Personal Finance (Not Investing)
Topic: How to pay partners for working your call
Replies: 57
Views: 3191

Re: How to pay partners for working your call

A good reason for docs to own their jobs. This all seems nutso compared to what we do- a simple market based system assigning a value to each of the 5 shifts- you pick the mix you work. If the shifts aren't covered, the values are adjusted until they are. If there are too many available shifts, we ...
by gasdoc
Thu Feb 22, 2018 8:55 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay partners for working your call
Replies: 57
Views: 3191

Re: How to pay partners for working your call

We always do it pretax, but have a small partnership and it’s easy for us to arrange payments. I’ve always wondered if doing it post tax and not reporting it would be considered illegal - can any lawyers/ cpas weigh in? It also could affect what tax rate those dollars are being earned at if the buy...
by gasdoc
Thu Feb 22, 2018 8:25 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay partners for working your call
Replies: 57
Views: 3191

Re: How to pay partners for working your call

Interesting. In my line of work, if you are salaried, you don't get paid for doing extra things like being on call. It's part of your job. If they wanted to pay by the call, they'd put you on an hourly wage. If the work can be traded, you trade (or ask for favors). If this is simply part of your sa...
by gasdoc
Thu Feb 22, 2018 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay partners for working your call
Replies: 57
Views: 3191

Re: How to pay partners for working your call

bi0hazard wrote:
Thu Feb 22, 2018 7:50 pm
Easy. We do this ALL the time. Salary transfer for standard/pre-determined rate (NO-negotiation needed).

biOhazard, is this pre-call or post-call? Handled person to person, or does the group manage it and pay for it like we have been doing until recently?

gasdoc
by gasdoc
Thu Feb 22, 2018 7:40 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay partners for working your call
Replies: 57
Views: 3191

Re: How to pay partners for working your call

Just cut a check on Monday morning. The one taking the call takes more income (call cost) and pays the extra taxes as income. The one paying expenses it and deducts it. More W-2 for the call-taker. Less W-2 for the call-avoider. We own our own practice, so it's easy. Goodenyou, please elaborate. It...
by gasdoc
Thu Feb 22, 2018 7:35 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay partners for working your call
Replies: 57
Views: 3191

Re: How to pay partners for working your call

The group is aware, and it impacts only those involved in the trade. The only thing that is changing is that the national company is considering no longer supporting the changes and resulting payroll changes. Kinda makes sense; you're sorta hiring a subcontractor to do your own contracted work. I k...
by gasdoc
Thu Feb 22, 2018 7:23 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay partners for working your call
Replies: 57
Views: 3191

Re: How to pay partners for working your call

Our accounting department just takes the money from Dr. Senior's paycheck and adds it onto Dr. Junior's, all pretax. On our pay stub is a separate column called call pay. Thanks, kingsnake. We will have to see what this company decides to do. I'll have to push hard to keep it clean by doing the acc...
by gasdoc
Thu Feb 22, 2018 7:15 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay partners for working your call
Replies: 57
Views: 3191

Re: How to pay partners for working your call

Can you just exchange calls for each other? Only way I've ever heard of. If one individual is buying his/her way out of call to reduce overall call exposure, seems like something that the whole group or leadership or management (if an employed model) should be aware of, imo. The group is aware, and...
by gasdoc
Thu Feb 22, 2018 7:12 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay partners for working your call
Replies: 57
Views: 3191

Re: How to pay partners for working your call

cash, if you can't figure out some way to run it through the practice (this is what we do, but we own and run the practice) Thanks, jacoaviu, Do you deal in pre-tax cash or post-tax cash? Do you deal with 1099's if it is pre-call cash? gasdoc we don’t deal with cash We divide our practice income ba...
by gasdoc
Thu Feb 22, 2018 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay partners for working your call
Replies: 57
Views: 3191

Re: How to pay partners for working your call

cash, if you can't figure out some way to run it through the practice (this is what we do, but we own and run the practice) Thanks, jacoaviu. To this point, we have been running these schedules through the practice, but our ability to do that may end soon. We are employed by a national company (sin...
by gasdoc
Thu Feb 22, 2018 6:54 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay partners for working your call
Replies: 57
Views: 3191

Re: How to pay partners for working your call

No experience in this field, but I would wonder about various kinds of risks associated with one "employee" being paid by the employer for work/time done by another. Sure seems like the employer could just pay the one doing the hours/work. Thanks, dm200. Not sure what kind of risks you would be ref...
by gasdoc
Thu Feb 22, 2018 6:53 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay partners for working your call
Replies: 57
Views: 3191

Re: How to pay partners for working your call

jacoavlu wrote:
Thu Feb 22, 2018 6:07 pm
cash, if you can't figure out some way to run it through the practice (this is what we do, but we own and run the practice)
Thanks, jacoaviu, Do you deal in pre-tax cash or post-tax cash? Do you deal with 1099's if it is pre-call cash?

gasdoc
by gasdoc
Thu Feb 22, 2018 6:52 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay partners for working your call
Replies: 57
Views: 3191

Re: How to pay partners for working your call

sport wrote:
Thu Feb 22, 2018 5:21 pm
Can you just exchange calls for each other? Then, it seems no paperwork would be necessary.
Sometimes that is done. Other times, a more senior member (me) pays a more junior member (everyone except me) to work the senior member's weekend calls.

gasdoc
by gasdoc
Thu Feb 22, 2018 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay partners for working your call
Replies: 57
Views: 3191

How to pay partners for working your call

For those of you in medical groups, how do you compensate each other for calls taken or shifts worked on your behalf? In other words, If I want to pay a partner to take my Saturday call, and we are paid a straight salary from our employer, what is the best way to pay each other? Some of the group me...
by gasdoc
Fri Feb 16, 2018 9:36 am
Forum: Personal Finance (Not Investing)
Topic: How to get child's skin in the game for college?
Replies: 135
Views: 6478

Re: How to get child's skin in the game for college?

Ditch the GPA requirement. I got around a 3.2 in my Engineering degree and am doing great. I would encourage you to encourage her to go into a real major that has actual job prospects without a masters. Don't fall for the "well this school is a top 5 basket weaving program so i'll be able to get a ...
by gasdoc
Fri Feb 16, 2018 9:18 am
Forum: Personal Finance (Not Investing)
Topic: How to get child's skin in the game for college?
Replies: 135
Views: 6478

Re: How to get child's skin in the game for college?

Not to judge, but it seems that your plan encourages getting good grades without necessarily getting a useful education. (It would be nice to get both, but it is not a given.) We are paying for our daughter's first four years without qualification. Scholarships/choosing a less expensive school would...
by gasdoc
Thu Feb 15, 2018 5:08 pm
Forum: Personal Consumer Issues
Topic: How do docs treat "white coat hypertension"?
Replies: 35
Views: 2081

Re: How do docs treat "white coat hypertension"?

My BP goes up when I am running behind on getting to the appointment on time. If I leave the house 15 minutes earlier, I don't worry about it as I hit every red light in town. Might help?

gasdoc
by gasdoc
Mon Feb 12, 2018 7:04 pm
Forum: Personal Consumer Issues
Topic: USPS Flat Rate Boxes - How do they work?
Replies: 27
Views: 2110

Re: USPS Flat Rate Boxes - How do they work?

Good advice, all. FYI: I just shipped ~15 items all over the country today (from northeast) and discovered the following: Small heavy stuff going way down south, southwest, west = you can’t beat the flat rate boxes. A smallish box to Utah would have been ~$25 and it was $12.70 as a medium flat rate...
by gasdoc
Fri Feb 09, 2018 10:04 am
Forum: Personal Finance (Not Investing)
Topic: How to pay college tuition from a 529?
Replies: 26
Views: 2068

Re: How to pay college tuition from a 529?

I pay the college as a debit from my personal checking account. Then, I reimburse myself from the 529 at Vanguard. They mail me a physical check, but I may change that to an electronic transfer if I can. I then staple the receipt from the Vanguard 529 to the receipt from the electronic transfer to t...
by gasdoc
Mon Jan 29, 2018 9:49 am
Forum: Personal Finance (Not Investing)
Topic: April vacation for 2 families
Replies: 13
Views: 1054

Re: April vacation for 2 families

Puerto Rico? May still have significant storm damage. I can tell you all of our medical equipment produced there is still back ordered.

gasdoc
by gasdoc
Thu Jan 25, 2018 12:45 pm
Forum: Personal Consumer Issues
Topic: Lawn service etiquette
Replies: 36
Views: 3748

Re: Lawn service etiquette

The monthly cost of our lawn care is about 50% higher than yours. The cost of our annual pine straw is also about 50% higher than yours. You seem to like the people, and there was a reasonable explanation for them doing the work without your consent. The folks saying essentially that you are being r...
by gasdoc
Mon Jan 22, 2018 11:43 am
Forum: Personal Finance (Not Investing)
Topic: Discussing a 529 with your kids
Replies: 79
Views: 5374

Re: Discussing a 529 with your kids

I never actually mentioned the amount in the 529, but she can figure it out easy enough. I told her it was enough to cover 4 years at any school she would choose, and if she chose a cheaper school, or got scholarship money, she could use the rest of the money for grad school (she is pre-med). She i...
by gasdoc
Sun Jan 21, 2018 8:47 pm
Forum: Personal Finance (Not Investing)
Topic: Discussing a 529 with your kids
Replies: 79
Views: 5374

Re: Discussing a 529 with your kids

I never actually mentioned the amount in the 529, but she can figure it out easy enough. I told her it was enough to cover 4 years at any school she would choose, and if she chose a cheaper school, or got scholarship money, she could use the rest of the money for grad school (she is pre-med). She i...
by gasdoc
Sun Jan 21, 2018 8:13 pm
Forum: Personal Consumer Issues
Topic: Car Stereo Questions
Replies: 25
Views: 1454

Re: Car Stereo Questions

Not to hijack the thread, but I was wondering if having a non-OEM stereo makes any difference when the car is eventually traded in.

gasdoc
by gasdoc
Sun Jan 21, 2018 8:03 pm
Forum: Personal Finance (Not Investing)
Topic: Quicken's future direction - a cause for concern
Replies: 516
Views: 67735

Re: Quicken's future direction - a cause for concern

I just ordered Quicken Premier 2017 from bonanza.com. They are selling them for $30 there. That should put this off for two more years. Hopefully a more appealing option emerges in that time. Thanks. This just bought me a few more years as well while I sort this out. May need to wean myself off thi...
by gasdoc
Sun Jan 21, 2018 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: Discussing a 529 with your kids
Replies: 79
Views: 5374

Re: Discussing a 529 with your kids

I never actually mentioned the amount in the 529, but she can figure it out easy enough. I told her it was enough to cover 4 years at any school she would choose, and if she chose a cheaper school, or got scholarship money, she could use the rest of the money for grad school (she is pre-med). She is...
by gasdoc
Tue Jan 16, 2018 8:17 am
Forum: Personal Finance (Not Investing)
Topic: Self pay vs insurance
Replies: 10
Views: 841

Re: Self pay vs insurance

Hi, We currently have HSA insurance with $5685/11370 deductible plan. I was wondering if it would be cheaper to pay for most medical expense as self pay (without submitting to insurance) ? If so, can the expenses still be submitted to insurance so it counts toward the deducible? Thanks No, if you s...
by gasdoc
Mon Jan 08, 2018 12:00 pm
Forum: Personal Consumer Issues
Topic: Hot Water Delay at faucet/shower far from water heater
Replies: 100
Views: 6671

Re: Hot Water Delay at faucet/shower far from water heater

We had this issue. I don't mind waiting for the shower to warm up because I turn it on while I get ready for it, and it only takes 90 seconds to warm up. The sinks were a different issue. Waiting 90 seconds to wash your hands or brush your teeth is a pain. We solved it by installing a small auxilla...
by gasdoc
Mon Jan 08, 2018 11:48 am
Forum: Personal Finance (Not Investing)
Topic: New 529 Plan Rules
Replies: 22
Views: 2210

Re: New 529 Plan Rules

Just curious, when our daughter was kindergarten age, we were still working on funding her 529b fund, with the idea of having full funding by college year. People are now talking about using the funds for elementary school and later. How are people managing their 529's? Are they being funded by gran...
by gasdoc
Mon Jan 08, 2018 11:38 am
Forum: Investing - Help with Personal Investments
Topic: Bonds in Roth or Taxable?
Replies: 13
Views: 1333

Re: Bonds in Roth or Taxable?

Thanks for the very interesting article link at WCI. Definitely some good info there that certainly makes me agree that Taxable seems to be a better location for Bonds rather than a Roth. I haven't read the WCI article, and I respect WCI immensely, but isn't that advice a bit short sighted? Doesn't...
by gasdoc
Sun Jan 07, 2018 8:56 am
Forum: Personal Finance (Not Investing)
Topic: Downsizing to one car in retirement...
Replies: 68
Views: 4160

Re: Downsizing to one car in retirement...

We are planning to retire to "The Villages," in Florida. You can get anywhere in a golf cart. Our garage there holds two cars and a golf cart, but it's a tight squeeze. Our plan is to downsize to one car, with one golf cart as back up transportation, leaving room for storage in the garage.

gasdoc
by gasdoc
Sat Jan 06, 2018 6:12 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard: No more buy/sell transactions in writing?
Replies: 31
Views: 2604

Re: Vanguard: No more buy/sell transactions in writing?

I have never thought Vanguard was great as a “bank.” I use Capital One for mobile deposits, then transfer electronically to Vanguard. My LLC funds are direct deposited.

Gasdoc
by gasdoc
Wed Jan 03, 2018 6:49 pm
Forum: Personal Finance (Not Investing)
Topic: Consolidate to Single Financial Institution?
Replies: 30
Views: 2315

Re: Consolidate to Single Financial Institution?

For us, it is Vanguard for investments and an online bank and local credit union for banking. (Also an HSA at Saturna).

gasdoc
by gasdoc
Wed Jan 03, 2018 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth Conversion Question
Replies: 6
Views: 438

Re: Backdoor Roth Conversion Question

retiredjg wrote:
Wed Jan 03, 2018 11:58 am
gasdoc wrote:
Wed Jan 03, 2018 11:41 am
He'll have to make sure the 401k accepts rollovers.
Fidelity might be a good choice. Vanguard does not.
Thanks. I just told him the same thing.

gasdoc
by gasdoc
Wed Jan 03, 2018 11:41 am
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth Conversion Question
Replies: 6
Views: 438

Re: Backdoor Roth Conversion Question

Because of income limits, he does not qualify for a deductible IRA. gasdoc This does not mean he can't contribute to Roth IRA. Has he checked? Does he really need the back door? If yes, the SEP IRA is definitely in the way. A solo 401k would solve that, but it must be one that accepts an inbound ro...
by gasdoc
Wed Jan 03, 2018 10:45 am
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth Conversion Question
Replies: 6
Views: 438

Re: Backdoor Roth Conversion Question

I had just read the Kitces article myself, and I appreciate your explanation as well. I was wondering if setting up a solo 401K would be the answer, and your response seems to confirm that it would be. (We are both self employeed, on 1099's.). Thank you.

gasdoc
by gasdoc
Wed Jan 03, 2018 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Retirement accounts and physician SCorps and Tax Reform
Replies: 48
Views: 3513

Re: Retirement accounts and physician SCorps

...My understanding is the pass-through S-distributions have to be limited in order to not reduce reasonable W-2 wages of a physician. For example, if a physician has $500,000 of compensation, you cannot classify that compensation as $100,000 of W-2 and $400,000 of S-distributions... goodenyou, Ass...
by gasdoc
Wed Jan 03, 2018 9:03 am
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth Conversion Question
Replies: 6
Views: 438

Backdoor Roth Conversion Question

Hi, folks. I have a younger colleague doing a Backdoor Roth Conversion at Vanguard for the first time. Because of income limits, he does not qualify for a deductible IRA. He also has a SEP plan (pretax) at another institution, and he is considering transferring that SEP to Vanguard. Will this transf...
by gasdoc
Wed Jan 03, 2018 7:42 am
Forum: Personal Consumer Issues
Topic: Convert drafty wood burning fireplace to more efficient
Replies: 21
Views: 1720

Re: Convert drafty wood burning fireplace to more efficient

I'll chip in here with a recommendation for a ventless insert although I know there will be many who say those are not safe. Advantages: Cost less than Direct Vent especially if considering install costs. Generally much better (more realistic) looking flames. Puts much, MUCH more heat into a space ...
by gasdoc
Wed Jan 03, 2018 7:32 am
Forum: Personal Consumer Issues
Topic: Do you meditate?
Replies: 131
Views: 10727

Re: Do you meditate?

How about the studies where they take an experimental group and teach them meditation and have them meditate every day for a period of time, and they take a control group and have them simply sit quietly every day for the same period of time. Then, after a number of weeks, they check functional MRI'...
by gasdoc
Sat Dec 30, 2017 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: How many years of deductions for a new DAF?
Replies: 17
Views: 1117

Re: How many years of deductions for a new DAF?

This is the OP. I just opened a DAF at Vanguard, and via online transaction donated 5-10 years worth of charitable donations. It puts me further from my financial independence number :( but will be good in the long run. Thanks, gasdoc I'm very impressed that Vanguard would be able to do this after ...
by gasdoc
Sat Dec 30, 2017 11:24 am
Forum: Personal Finance (Not Investing)
Topic: How many years of deductions for a new DAF?
Replies: 17
Views: 1117

Re: How many years of deductions for a new DAF?

This is the OP. I just opened a DAF at Vanguard, and via online transaction donated 5-10 years worth of charitable donations. It puts me further from my financial independence number :( but will be good in the long run.

Thanks,
gasdoc
by gasdoc
Fri Dec 29, 2017 11:13 pm
Forum: Personal Finance (Not Investing)
Topic: How many years of deductions for a new DAF?
Replies: 17
Views: 1117

Re: How many years of deductions for a new DAF?

Iorek wrote:
Fri Dec 29, 2017 10:33 pm
Their website still indicates you can contribute Vanguard securities thru Vanguard.com (or a mailed check) until Dec 31
That is what I am hoping. I am on call tonight, in house. Tomorrow will be my next opportunity.

gasdoc
by gasdoc
Fri Dec 29, 2017 10:07 pm
Forum: Personal Finance (Not Investing)
Topic: How many years of deductions for a new DAF?
Replies: 17
Views: 1117

Re: How many years of deductions for a new DAF?

I am considering what will probably be 7-10 years of deductions, but only because I am considering donating one fund in its entirety that I no longer want to own, but have put off selling due to the capital gains I would incur. Other than the loss of liquidity that was mentioned above, is there a d...
by gasdoc
Fri Dec 29, 2017 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: Donating shares from Vanguard
Replies: 17
Views: 1081

Re: Donating shares from Vanguard

For 2017, there is only time to open the DAF at the same institution where the shares are held. There is not enough time to transfer shares. gasdoc, did you notice in some of the other threads that you can open a Fidelity DAF and fund it via a grant from your Vanguard DAF? This would have no effect...
by gasdoc
Fri Dec 29, 2017 12:50 pm
Forum: Personal Finance (Not Investing)
Topic: Donating shares from Vanguard
Replies: 17
Views: 1081

Re: Donating shares from Vanguard

OP may still have time to open a donor advised fund with VG shares, but I think that has a $25k minimum (although once you open the account you wouldn't have to contribute the entire $25k in a single year or to a single organization). This is why many people, including me, opt to open a Fidelity DA...
by gasdoc
Fri Dec 29, 2017 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: New Tax Bill -- Should we open a Donor Advised Fund (DAF) before the end of the year?
Replies: 67
Views: 2912

Re: New Tax Bill -- Should we open a Donor Advised Fund (DAF) before the end of the year?

And at POF and gasdoc, yes it is too late to start the DAFs, at least w/ appreciated holdings. When I browsed the FAQ section of the Vanguard Charitable website, it had a list of cut-off dates, and I think it was 12/21 to start it w/ a transfer of holdings. This was the same for Fidelity's DAF. The...
by gasdoc
Fri Dec 29, 2017 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: Donating shares from Vanguard
Replies: 17
Views: 1081

Re: Donating shares from Vanguard

OP may still have time to open a donor advised fund with VG shares, but I think that has a $25k minimum (although once you open the account you wouldn't have to contribute the entire $25k in a single year or to a single organization). This can be done up until Dec 31, if it is done online at Vangua...