Money Meets Medicine

On this episode, Dr. Jimmy Turner and Justin Harvey CFP answer listener questions about private money lending investment opportunities, how much you should pay your advisor (and the hidden costs most people don’t realize), and the math on making part-time work in medicine financially feasible. Join the waitlist for the free live personal finance curriculum taught by Jimmy Turner that starts in January: moneymeetsmedicine.com/teach Are you a 1099, locums doc, or private practice partner or business owner? You need a tax strategy team. Get 10% off working with the team I use here (Gelt): https://moneymeetsmedicine.com/CPA Every doctor needs disability insurance.  Get it from a source you can trust: https://moneymeetsmedicine.com/disability   Want a free copy of The Physician Philosopher’s Guide to Personal Finance?  Snag your copy here: https://moneymeetsmedicine.com/freebook   Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Your $75K signing bonus might be a bug, not a feature. If there's a clawback, that money isn't really yours yet.Dr. Jimmy Turner and Justin Harvey CFP tackle three listener questions: what to do with a physician signing bonus you might have to repay, what to do when a scholarship leaves your 529 overfunded, and whether leaving a W-2 job for 1099 work is worth it. Jimmy, who just made the W-2-to-1099 switch himself, gets candid about the workload nobody mentions.Join the free personal finance curriculum for physicians in training - class start in January! Every doctor needs own-occupation disability insurance. Get a disability quote from a source you can trust: Want a free copy of The Physician Philosopher's Guide to Personal Finance? Snag your copy here.Have a question of your own? Email me at [email protected]   Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

On the Money Meets Medicine podcast, Dr. Jimmy Turner and CPA Spencer Carroll of Gelt discuss why physicians should plan taxes before December 31 rather than focusing only on filing in spring, citing Turner’s unexpected $36,000 tax bill as a consequence of compliance-only CPA work. They explain year-round tax strategy, the value of Q4 projections to avoid penalties and surprises, and key year-end actions such as paying reasonable S-corp salary by 12/31, making employee solo 401(k) contributions by 12/31 (while some employer contributions and certain plan setups can occur by filing deadlines), HSA timing including the “last month” rule, tax-loss harvesting, managing income/expenses, charitable giving strategies like donor-advised funds, and hiring/payrolling kids or spouses before year-end. Resources:Start your Year-End Tax Review with Gelt and get 10% off as a Money Meets Medicine listener: https://moneymeetsmedicine.com/CPAEvery doctor needs own-occupation disability insurance. Get it from a source you can trust: https://moneymeetsmedicine.com/disabilityWant a free copy of The Physician Philosopher's Guide to Personal Finance? Snag your copy here: https://moneymeetsmedicine.com/freebook   Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

On this episode of the Money Meets Medicine podcast, hosts Dr. Jimmy Turner and Justin Harvey CFP discuss: Why passive activity loss rules trap syndication losses for W-2 earners — and the "active participant" workaround that fails the New York Times testFive ways to unwind a concentrated stock position in a brokerage accountA step-by-step playbook for what to do with an annual bonusResources:Every doctor needs own-occupation disability insurance. Get a quote from us here at Money Meets Medicine Insurance. An insurance agency created for doctors, by doctors. Get a 10% discount off first year's services with the tax strategy team that Jimmy personally uses (Gelt). Not sure where to get started on your financial literacy journey? Snag a free copy of The Physician Philosopher's Guide to Personal Finance.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of Money Meets Medicine, hosts Dr. Jimmy Turner and Justin Harvey tackle three listener questions on personal finance for physicians. They discuss whether HSA-eligible plans make sense during high healthcare-usage periods like pregnancy, charitable giving strategies including donor advised funds and tax-efficient gifting of appreciated securities, and when physicians with significant net worth should consider stopping life and disability insurance premiums. The hosts emphasize personalized decision-making based on individual circumstances, consistently recommending listeners consult qualified financial professionals before making major financial decisions.Resources:Are you a 1099, locums doc, or private practice partner or business owner? You need a tax strategy team. Get 10% off working with the team I use here (Gelt): https://moneymeetsmedicine.com/CPA Every doctor needs own-occupation disability insurance.  Get it from a source you can trust: https://moneymeetsmedicine.com/disability   Want to get started on your financial literacy journey? Download a free copy of The Physician Philosopher's Guide to Personal Finance.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.