Practice Practice
For stakes this high you definitely need to find someone you can practice giving the presentation to and get feedback.
Often something sounds good in your head but the minute you say it to another person you realize it is not the message you want to deliver.
Iām contemplating selling my practice. Hypothetically, what could be the best situation for the seller regarding tax liability on a $4 million price tag? Iāll ask my CPA of course but yāall are smart as hell and want to know your opinion.
Think thereās any way to avoid losing $1 million of that to the govt? Think Iāve heard that accepting smaller amounts over a longer period of time from buyer at interest could yield much lower taxes owed than a big lump sum all at once.
Iām taking the plunge and talking to travel nurse agencies. I have experience in med/surg and emergency room, and Iām pretty sure I like the emergency room more.
If staffing and ratios are going to be a catastrophe everywhere in health care, I might as well make ~50% more money for the same job.
Will keep this thread updated about the selection and interview process.
Capital gains rates are the best you can do. If some of the purchase price isnāt payable until a later year, you can defer the taxes until the year the payment is made, but that is just a timing benefit, not a reduction in the total amount paid.
If youāre planning on making charitable donations with some of the proceeds, you might be able to do something to reduce your tax liability a bit, but usually that only works really well with C corps.
EDIT: Also, if youāre willing to take equity of the buyer, you could potentially defer some of your gain until you dispose of the equity of the buyer.
My guess is youāll definitely need personalized professional advice for something like this. In Canada there is a concept under the Income Tax Act that specifically allows small business owners to sell businesses and exempt a sizeable portion of the capital gain. There may be something similar in the US.
There is not much you can do. Take comfort in the fact that long term capital gains tax rates are currently outrageously low.
I would generally caution to not let the tax tail wag the dog. Stuff like shifting part of the sale into future years may produce some deferral and small tax savings, but it isnāt without risk and these deals can and do go wrong every day.
Thanks all for the feedback.
Investing in an expert is probably the best course of action. This is one of those situations where perusing Bogleheads could also be valuable.
Answer grit, provocation, and evangelization
So Iām out of work because of close contact. My boss and his boss have been calling me a bunch to figure stuff out.
Iām hourly, theyāre not supposed to do that right? I mean I donāt really care but they did wake me up once ::
Sounds like hospitals are finally collapsing. CA Gov just said nurses can go back to work after testing positive if theyāre asymptomatic. A local hospital just straight up told people not to come because theyāre overwhelemed.
Shit is scary AF right now. Waiting on my results because I felt shitty sunday with headache and fatigue and moms sick now. Just congested but thats a big deal with COPD. She is doing better and she does just randomly get COPD sickness somethings.
Ten percent luck, twenty percent skill
Fifteen percent concentrated power of will
Do you want to become management? If so play nice and bring it up when you try to make your case. āYou guys already treat me like a manager so I think I should become oneā.
If you donāt just answer your phone or not.
k hereās one. I work a white color job, programming, lead role, we use slack (a chat app) for office chats/dms. I donāt work on call and thereās a 0.1% chance my work could cause an āoutageā. I have installed slack on my phone with push notifications on, but was never instructed to or was expected to. At off hours and times Iāll occasionally make a slack post when pooping or whatever.
My boss dms me on slack at 9:50pm tonight for something super inconsequential.
0 voters
Yeah, if he wants to DM me at night, maybe thatās the best use of his time, but Iām getting to it on mine.
I think it depends on the relationship. If itās a fairly hierarchical relationship and/or theres otherwise
an expectation of response then its bullshit.
Like is slack/DMs used asynchronously? Or are they used more real time?
Definite warning sign. You may want to look for a way to comment.
āHey. That message you sent at midnight on sunday. Were you looking for an answer then and there?ā
Iād say not a big deal, but would recommend you set some boundaries on expectations, otherwise you may find them becoming more common with an expectation of a timely reply.
Yeah mulling this one IDK. Since its 12:20 Iām passive aggressively dming āWill do Andy!ā right now. Because of course its an andy. Hope it doesnāt wake him up.
probably just something he thought of taking a shit and wanted to tell you before he forgot tbh. i wouldnt care. once.
Missing the option for respond when you see the message, saying that youāll look into it first thing in the morning/whenever you expect to look into it.