SP-1 - Lower Your Taxes and Increase Income with Smart Planning Before a Practice Sale

Friday, April 19, 2024

3:00 PM – 4:30 PM PT

Location: 501 ABC

Earn 1.5 CE Credits

Speaker(s)

Johnne Syverson, CFP, AEP, CAP (he/him/his)

Executive Director
Charitable Giving Resource Center
West Des Moines, Iowa

Disclosure(s): No financial relationships to disclose

Handouts
Kirk A. Coury, D.D.S., M.S.

Endodontist
Amarillo Endodontics
Amarillo, Texas

Disclosure(s): Sonendo Inc.: 0 (Ongoing), Speaker/Honoraria (includes speakers bureau, symposia, and expert witness) (Ongoing)

Session Host(s)

Aw

Alyson whittlesey

Foundation for Endodontics

Disclosure information not submitted.

Presentation Description/Abstract: Most endodontists' financial planners are not aware of charitable giving vehicles that can have a significant impact on tax obligations in the wake of a practice sale or entrance into a DSO partnership. As discovered in the session presented at AAE23, proactive planning incorporating a variety of trusts or annuity instruments can slash a practice owner's federal tax obligation. There is also a very limited window of opportunity to employ other vehicles within the tax year the deal is signed. Either way, endodontists can cut taxes, increase income, and preserve assets for heirs and the charities of their choice by being aware of all the options available to them besides writing a big check to the IRS.

Learning Objectives:

Describe certain tax liabilities before and after retirement.
Comprehend financial and philanthropic vehicles applicable to individual career and life stages.
Describe how to apply these tools to your individual situation to reduce tax liability, pass on wealth, and increase retirement income.