Tax benefits are one of the primary reasons many doctors invest in real estate. The U.S. government incentivizes real estate ownership as it is considered starting a business, which creates jobs and increases tax revenue. One way to achieve significant tax savings is by becoming a real estate professional, but this is impossible for those working full-time. An alternative option for these individuals is short-term rental properties.
A short-term rental (STR) …
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Your income doesn’t matter. What you do for a living doesn’t matter. If you want to keep from being broke, none of these things matter except for this: When you’re dealing with money, you’ve got to understand how to do simple math.
I hear stories about people that don’t understand what broke means. It could be the person that recent graduates from dental school with $400K in debt that buys the $80K BMW for instant …
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A few short years ago, I started to worry about my family’s financial future while vacationing. During our annual ski trip, I took a nasty fall, landing on my wrist. The pain in my arm made me take notice of just how fragile our financial situation was.
As a self-employed periodontist, I asked myself:
- What if I was injured while playing sports with my kids?
- What if I became permanently disabled?
If …
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