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Retirement Planning for Dentists | MDcpas

Retirement planning for dentists requires an entirely different strategy than what is used by most working people. Most people enter the workforce in their early twenties or before and start contributing to their 401(k), Roth IRA, or other retirement savings vehicles. So schedule your meeting with our experts at MDcpas today and start your retirement planning.

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Retirement Planning for Dentists | MDcpas

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  1. Retirement Planning For Dentists An Introduction: They develop retirement plans for doctors and retirement planning for dentists. Inquiries are free regarding your retirement and insurance needs! Benefits: Contributions to the plan are tax deductible. Contributions aren't currently income taxable. Plan earnings grow tax-deferred until they are withdrawn. There is no income tax on net insured death benefits. They provide saving at retirement Quick Summary: Offering retirement plan options can help dental practice owners promote employees’ financial wellness. As well as a retirement plan benefits both the employer and employees. Retirement Planning Strategies: 1. Begin with the 401(k) plans or equivalents that are available. 2. If possible, switch to IRA accounts. 3. Open a Health Savings Account (HSA). 4. Make a low-cost, taxable brokerage account contribution. Well-known retirement plan options: For employers who don’t want to adopt a retirement plan, the payroll deduction IRA offers employees a simple and direct way to save by contributing to an IRA through payroll deductions. Employees can choose to defer a portion of their salary instead of receiving that amount in their paycheck. Many 401(k) plans provide for employer matching or other contributions. Contact Us: 800-477-5857 www.mdcpas.com

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