DID Monthly: Private Equity in DSOs, A Bipartisan Tax Deal, and Retirement Plan Mistakes

On this episode of Drilling It Down, Liam and Wes explore Indexed Universal Life (IUL) insurance, dissecting its complexities and common misconceptions. They clarify how IULs differ from term life insurance and critique the misleading marketing that positions them as safe investment vehicles. They examine eight key issues associated with IULs, highlighting the risks of embellished growth illustrations and the reality of loan implications against cash values. Emphasizing the need for thorough scrutiny, they advocate for conventional investment options that typically yield better returns. Join us for insights that equip you to make informed financial decisions regarding IULs.Want to submit a question that will be answered on the next episode? Submit it here or email us at [email protected]. If you're not already, subscribe to The McGill Advisory newsletter to keep up with all the articles mentioned in our episodes, as well as a plethora of other content. Use code Podcast20 for 20% off! Listen to our sister show, Next Gen DDS! An all-in-one resource for dental students, residents, and early career doctors, discussing both clinical and business aspects of dentistry, hosted by Wes Lyon and Dr. Scott Menaker.

In this episode of Drilling It Down, Jonathan and Wes speak about the importance of preparing for catastrophic events, including death and disability. They discuss life insurance—how to determine necessary coverage and the benefits of term policies over permanent ones. Wes emphasizes the need for disability insurance, particularly for dentists, and outlines options for obtaining it. They also highlight the importance of structured plans for practice transitions, ensuring a reliable contact for unforeseen circumstances. Lastly, they address the emotional impact of sudden loss and the necessity of proactive planning to ease burdens on loved ones.Want to submit a question that will be answered on the next episode? Submit it here or email us at [email protected]. If you're not already, subscribe to The McGill Advisory newsletter to keep up with all the articles mentioned in our episodes, as well as a plethora of other content. Use code Podcast20 for 20% off! Listen to our sister show, Next Gen DDS! An all-in-one resource for dental students, residents, and early career doctors, discussing both clinical and business aspects of dentistry, hosted by Wes Lyon and Dr. Scott Menaker.

In this episode of "Drilling It Down," Wes and Jonathan discuss the decline in dental practice ownership among younger doctors, dropping from 33% in 2020 to about 20% now, largely due to the appeal of Dental Service Organizations (DSOs). They explore the recent 30% increase in in-house inquiries for practice acquisitions, signaling a renewed interest in ownership. The conversation dives into the financial fears tied to student debt, the drawbacks of the “delayed sale” approach, and the continued viability of selling a practice. They encourage listeners to consider their options in the evolving dental marketplace.Want to submit a question that will be answered on the next episode? Submit it here or email us at [email protected]. If you're not already, subscribe to The McGill Advisory newsletter to keep up with all the articles mentioned in our episodes, as well as a plethora of other content. Use code Podcast20 for 20% off! Listen to our sister show, Next Gen DDS! An all-in-one resource for dental students, residents, and early career doctors, discussing both clinical and business aspects of dentistry, hosted by Wes Lyon and Dr. Scott Menaker.

Join Wes and Jonathan on this episode of Drilling It Down, where they discuss Dental Service Organizations (DSOs) with a focus on trends, tax considerations, and financial strategies. They explore challenges in selling dental practices, retirement planning, and leveraging technology for practice optimization.Want to submit a question that will be answered on the next episode? Submit it here or email us at [email protected]. If you're not already, subscribe to The McGill Advisory newsletter to keep up with all the articles mentioned in our episodes, as well as a plethora of other content. Use code Podcast20 for 20% off! Listen to our sister show, Next Gen DDS! An all-in-one resource for dental students, residents, and early career doctors, discussing both clinical and business aspects of dentistry, hosted by Wes Lyon and Dr. Scott Menaker.

Drilling It Down is back after a technology-induced hiatus! Join Wes Lyon and Tyler Ott as they unpack the implications of the FTC ban on non-compete agreements, emphasizing its effects on practice sales and associates. They explore strategies like offering ownership stakes to associates for enforceability and stress the significance of retaining key team members to prevent turnover challenges. The hosts also discuss the legal landscape, upcoming lawsuits, and advise seeking legal counsel to navigate the changing regulations. Stay informed and await updates before making significant decisions in response to the non-compete debate.Want to submit a question that will be answered on the next episode? Submit them here or email us [email protected]. If you're not already, subscribe to The McGill Advisory newsletter to keep up with all the articles mentioned in our episodes, as well as a plethora of other content. Use code Podcast20 for 20% off! Listen to our sister show, Next Gen DDS! An all-in-one resource for dental students, residents, and early career doctors, discussing both clinical and business aspects of dentistry, hosted by Wes Lyon and Dr. Scott Menaker.

In this episode, Wes and Tyler explore strategies and tips for navigating IRS audits and maximizing tax deductions. They emphasized the benefits of meticulous documentation for business expenses, including utilizing the Augusta Rule and mileage logs. Clear communication with CPAs and honesty in reporting expenses are highlighted, along with structuring personal activities for tax deductions. The key takeaway underscores the importance of adherence to IRS regulations and proactive planning for optimizing deductions within legal limits.Want to submit a question that will be answered on the next episode? Submit them here or email us [email protected] you're not already, subscribe to The McGill Advisory newsletter to keep up with all the articles mentioned in our episodes, as well as a plethora of other content. Use code Podcast20 for 20% off! Listen to our sister show, Next Gen DDS! An all-in-one resource for dental students, residents, and early career doctors, discussing both clinical and business aspects of dentistry, hosted by Wes Lyon and Dr. Scott Menaker.

In this episode, Wes and Tyler debunk myths surrounding permanent life insurance, specifically whole life policies. They tackle misconceptions about using whole life as a retirement investment, the misleading nature of insurance projections, tax implications, and the myth of utilizing whole life for long-term care benefits.If you're not already, subscribe to The McGill Advisory newsletter to keep up with all the articles mentioned in our episodes, as well as a plethora of other content. Use code Podcast20 for 20% off!mcgilladvisory.comListen to our sister show, Next Gen DDS! An all-in-one resource for dental students, residents, and early career doctors, discussing both clinical and business aspects of dentistry, hosted by Wes Lyon and Dr. Scott Menaker.

In this episode of Drilling It Down, Wes and Tyler discuss the "Green Book" proposal and its possible tax implications for business owners, estate taxes, and expiring provisions of tax acts. They also explore the net investment income tax, potential increases in capital gains taxes, and their impact on individuals and businesses. Additionally, they touch on limits on 1031 exchanges and IRS enforcement of tax laws.They then jump into the disadvantages of permanent life insurance. They also share insights on tax-free income for college-age children, maximizing wealth without permanent life insurance, and the importance of transparency in financial products.Join us for upcoming seminars in Boulder, CO and Napa, CA on retirement planning, tax strategies, and legal considerations!If you're not already, subscribe to The McGill Advisory newsletter to keep up with all the articles mentioned in our episodes, as well as a plethora of other content. Use code Podcast20 for 20% off! Listen to our sister show, Next Gen DDS! An all-in-one resource for dental students, residents, and early career doctors, discussing both clinical and business aspects of dentistry, hosted by Wes Lyon and Dr. Scott Menaker.

In this episode of Drilling It Down, Wes Lyon and Tyler Ott cover insights on the net investment income tax, signs of overstaffing in dental practices, and common mistakes in divorces.They emphasize the importance of accurate reporting for investments, balancing staff levels for productivity, tracking assets during divorces, selecting the right tax structure for partnerships,and seeking expert advice to avoid costly errors.If you're not already, subscribe to The McGill Advisory newsletter to keep up with all the articles mentioned in our episodes, as well as a plethora of other content. Use code Podcast20 for 20% off! Listen to our sister show, Next Gen DDS! An all-in-one resource for dental students, residents, and early career doctors, discussing both clinical and business aspects of dentistry, hosted by Wes Lyon and Dr. Scott Menaker.

In this episode of Drilling It Down, Wes Lyon and Liam Fitzgerald discuss long-term care insurance. They delve into the history and evolution of long-term care insurance, highlighting key mistakes made by insurance companies such as underestimating policy duration and rising healthcare costs. They caution against buying long-term care insurance due to unsustainable financial models and the potential for high premium increases. The conversation touches on the complexities of surrendering policies, the importance of assessing the policy's value, and the need for transparency from insurance agents.Wes and Liam emphasize the need for individualized financial advice and suggest considering self-insurance or alternative investment options.If you're not already, subscribe to The McGill Advisory newsletter to keep up with all the articles mentioned in our episodes, as well as a plethora of other content. Use code Podcast20 for 20% off! Listen to our sister show, Next Gen DDS! An all-in-one resource for dental students, residents, and early career doctors, discussing both clinical and business aspects of dentistry, hosted by Wes Lyon and Dr. Scott Menaker.