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VeryOldPA

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About VeryOldPA

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    Physician Assistant

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  1. Having a Corporation allowed me to deduct business expenses like the cost of purchasing a car gas , matainance, insurance, cell phone, malpractice insurance, computer, lab coats CME, journal subscriptions to name a few write offs I’m sure an accountant would find more
  2. You’ll be sorry come tax time. I had W2 and 1099 I I come for 15 years. Lost very dime of the 1099 money to taxes and penalties. Sat with an accountant my lawyer recommended For the next 14 years I paid next to no taxes on the corporation I formed Sit with an accountant now if only to get professional advice. It will be worth what ever it costs
  3. Because Federal law prohibits donations from non-members. Only members and employees can contribute
  4. It can be overwhelming. I’ve been reading up on this stuff for over 40:years and have learned from my mistakes. Best advice I can give you is to get yourself a fee only advisor you can trust and go with no load mutual funds. For a novice like you Vanguard would be a good choice there funds are just about all no load index funds Another caveat is to never buy our invest in anything that you don’t completely understand. I was fortunate enough to find a CPA who is also a Certifiend Financial Planner I’m happy to chat with you if you’d like just email me I
  5. Of course your financial advisor recommended an IUL. He made a huge commission by selling it to you. An IUL is a whole life insurance policy and has no place in your retirement portfolio. I recommend that you 1) Dump your advisor -STAT. He’s more concerned with making money off you than what’s best for you. 2) find a fee only advisor that charges you by the hour. NEVER EVER UNDER ANY CIRCUMSTANCES USE AN ADVISOR THAT IS A BROKER OR IN ANYWAY SELLS ANY FINANCIAL PRODUCTS !!! 3) Don’t put another dime into the IUL.You will no doubt loose money in the short term but in the long term you’ll be better off. 4) if you are not eligible for a Roth then start a Traditional. IRA. 5) maximize your contributions to an employer 403 (b) or 401 (k) if you have that option available to you. Disclaimer; I speak from experience. Many years ago a a broker posing as a financial advisors cost me about $10K. I was lucky enough to have a family member who was the CEO of an insurance company that sold whole life policies. HIs advice was to never consider insurance as an investment. No load mutual funds (Vanguard orFidelity) for retirement and level term life insurance if you need life insurance BTW your advisor will try to talk you out of getting out of the IUL because HE will lose a ton of money
  6. The main benefit to rolling over to a roll over. IRA is that you maintain complete control. I think the advisor at Fidelity is wrong about the IRA being exposed in a law suit. My understanding is that all retirement assets are protected. Just make sure you have your own malpractice insurance
  7. The November meeting is a virtual meeting
  8. I’m not surprised. My source for that was a promotional pamphlet put out by a company promoting tourism
  9. True. Ri is the smallest state but has more miles of shoreline than any other state And the job market for PAs is pretty good too
  10. I haven’t read the Vermont law but from the description it sounds like Rhode Island law has all that is in the Vermont law plus there is no requirement for a practice agreement
  11. I served on a PA licensing for 12 years and in my experience you would not be licensed until all the encumbrances on your CA license had been removed Other states may differ. Can’t comment on employment potential.
  12. CRNAs are not our friends. In my state they have twice tried unsuccessfully to amend the PA law to prevent PAs from using any kind of anesthesia or sedation including local anesthesia. They are the most turf protective profession out there.
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