Chris Sands joins us today to talk debt, taxes, and wealth building. Chris is the founder of Pro-Fi 20/20, a multi-disciplinary CPA firm which helps dentists grow and increase profitability. We talk through 3 different scenarios and Chris gives his opinion on the best way to build wealth at different stages of a dentist's career.
1. Does a resident or young dentist pay off student loans at the higher interest rate, or invest in retirement?
2. Does a new practice owner focus on paying off practice debt? What are the tax implications of keeping a large debt burden around.
3. Does a seasoned practice owner expand and build a new building for tax purposes? How do you create income streams in the most tax efficient manner as possible?
Chris can be reached for a consultation at info@profi2020.com
Brews and Tiny Teeth, The Unfiltered Pediatric Dentistry Podcast