David Mandell, JD, MBA
OJM Group, Fort Lauderdale, FL
David B. Mandell, JD, MBA is an attorney in The Law Office of David B. Mandell, PC and principal of the nationally known wealth management firm OJM Group, LLC. Mr. Mandell is an author of more than fifteen books written specifically for doctors. These include the Category I CME Monograph Risk Management for the Practicing Physician, and the most recent Wealth Planning for the Modern Physician: Residency to Retirement. Mr. Mandell has addressed many of the nation’s leading medical conferences, including annual meetings of AMspa, American Academy of Dermatology, the American Society of Plastic Surgeons, the American Society of Aesthetic Plastic Surgeons, the American Academy of Facial Plastic & Reconstructive Surgery, and numerous others. Mr. Mandell holds a bachelor's degree, with honors, from Harvard University. His law degree is from the UCLA School of Law, and he also earned an MBA from UCLA’S Anderson School of Management.
This presentation explains how the new tax legislation impacts aesthetic medical practices, and physicians and outlines the best ways to take advantage of the new law to reduce income taxes today and in the future. We will focus on (1) corporate structure for the practice and other related ancillaries; (2) how to reduce taxes at the practice and personal level; (3) benefit planning including the use of qualified and non-qualified plans.
Take Home Message
Taxes are typically the top expenses for an AACS practice beyond personnel and one of the top expenses for surgeons personally. Yet there is a tremendously wide range within physician and practices in what type of tax planning is implemented, due to the fragmented nature of tax advice. This lecture discusses best practices in the over 1,000 physicians and practices the speaker has worked with over 25 years.