HSA/FSA... huge mistake made, trying to minimize

[OSman]

Got it thanks! Very helpful. So then the next question would be... what about taking the reimbursement from the FSA and then putting that money back...

[OSman]

I asked them the later and they said that they would. Its hard to know what is actually allowed though since I can't find any rules on the topic, ugh...

[OSman]

I called the FSA servicer (Wex) and they said they would indeed make reimbursements as long as I get them a receipt or an explanation of benefits from...

[OSman]

I'll be upfront with the fact that I am a complete idiot and there is no excuse for me not being more aware... That said my situation is as follows:...

[OSman]

Well son of a gun. Plan foiled. Thanks for the quick response!...

[OSman]

The title says it all

I purchased a practice recently. Together with another doc, we joined an existing doc making it a 3 doctor practice....

[OSman]

Curious as to why you would be surprised by that? Botox is one of the least invasive things pretty much any oral surgeon can do....

[OSman]

I have to be very delicate. As an oral surgeon I rely heavily on referrals from general dentists, many of whom who offer Botox/Fillers at their practices....

[OSman]

I have heard this on multiple accounts. I plan my advertising to be purely word of mouth. I am an oral surgeon and have a lot more lucrative things to...

[OSman]

I am looking to add Botox/Fillers to my practice. Yes I have experience and am qualified. I just have never wanted to deal with it too much because it...

[OSman]

Ha! Thanks so much! I hope it is nicer on your front porch than mine... 46 degrees today in Fargo...

[OSman]

That has been a tactic as of late... trying to shorten from 10 year cost projections to 3-4 year projections to lower the total "cost" of the...

[OSman]

I am sure they just put you on the hook for the overhead expenses. Hopefully the OP knows that their payroll taxes would go up and is accounting for ...

[OSman]

As always, much appreciated!

And to be sure I understand this concept (i've actually always wondered this)... for the employEE contribution...

[OSman]

Thank you kindly!

On 1: Does the 5K contributed by my old job count toward my 19,500 employEE limit? I always thought that was considered...

[OSman]

I could not be more ecstatic! This deal has been almost a year in the making and it is finally official! I live in a non enforceable non compete state...

[OSman]

It was my first job out of residency. It seemed like it would be a good job. I don't think it is possible for a greenback right out of training to know...

[OSman]

I'll bring us back here with a fresh example:

Hospital just came out with a new system wide policy that preoperative pregnancy testing is...

[OSman]

Absolutely I was annoyed and frustrated. But also I did not seek out conflict and feel I did my best to dissipate the conflict that sought me. They wanted...

[OSman]

Infraction was that a nurse "felt I was annoyed and frustrated" by her. The long story short is as follows:

30 minutes after my...

[OSman]

I am not assuming anyone who has contributed to this thread is in one boat or another.... but it's no secret that in my "real" life (as well...

[OSman]

Since I know I am leaving... any reason NOT to submit my 60 day notice right before the meeting? A few details still to be worked out with the place I...

[OSman]

The offer is my current salary. I've just been negotiating buy in terms to the practice which is now down to 6 months. So really my intent was to make...

[OSman]

My gripe with round one is they clearly did not speak to all parties who were witness to the event (including my NP who expressed willingness to give...

[OSman]

Yeah I've been impressed with everyone's input here except fat pig. Has otherwise been a very productive discussion and I really appreciate everyone's...

[OSman]

Would you also refuse to say what the meeting is about though? It is clear they are not going to give me specifics so I have no way to prepare or try...

[OSman]

I really appreciate everyone's input. I certainly appreciate those who recognize the constraints administration puts on providers regularly and I also...

[OSman]

This is a reasonable thing to ask me to consider. And believe me, I am always looking inwardly and take as much responsibility as I can. However, the...

[OSman]

So I get this ominous email this AM from the chief of service of my department. Usually very limited interaction otherwise. Email is requesting to set...

[OSman]

Can you donate options contracts to the DAF as well for the same tax reduction benefits?

[OSman]

It's a night off from the kids. It's extra cash... and most importantly, it's opened my eyes to how much better private practice is than working for a...

[OSman]

Do you get the double benefit of not paying capital gains AND getting apply that amount toward itemized deductions? For example: you have 30k worth of...

[OSman]

I'd like to ask another question on here rather than starting a new thread as its somewhat related:

I've also purchased my first rental...

[OSman]

Thanks for the helpful responses!

After reading about the standard meal allowance of $55... can I just claim the $55 per day even though...

[OSman]

I do a moonlighting gig about 3 hrs out of town. I usually drive down the night before, stay in a hotel and drive back the next day. I assume my mileage...

[OSman]

For better, my yearly income continues rise. This year I had a "windfall" at the end of the year in the form of the last couple months amazing...

[OSman]

Between SDR maintenance fees, along with property management fees, it seems to me like, someone needs at least a 20% annual ROI in order to just break...

[OSman]

I think everyone ought to have in their mind, responses for various scenarios:

1. You are informed that your and everyone including admin's...

[OSman]

At this point put me in the "say nothing" group. I think it is about buying time at this point... try and go as unnoticed as possible, send...

[OSman]

I'm in your similar boat. On the second year of my initial contract which states guaranteed salary without clauses (as far as I can tell) giving them...

[OSman]

I think you may have more luck if you have 1 or 2 lenders who you have a nice relationship with contacting you with rates once reached your specified...

[OSman]

To tell you the truth I didn’t know I’d be allowed to bill medical for sedation. I’ve always billed d9222 or d9239 and figured the cpt sedation...

[OSman]

Thanks everyone for your input. Has been very helpful. I’ll avoid brash actions and continue to try to work this out as suggested.

To...

[OSman]

Upon initiation of my employment with my hospital it seems that I was enrolled in virtually all insurances. Some of the companies negotiated rates look...

[OSman]

Keep in mind the difference between dental and medical billing/payers/collections. Private practice dentistry should expect to collect upwards of 90% of c...

[OSman]

https://www.medscape.com/viewarticle/918744 Looks like there’s still work to do. If you don’t want to click, article came out yesterday called “C...

[OSman]

As I read more and more about hospital billing charges, I agree that their demise is imminent. Are there thoughts on the effect this will have physicians?...

[OSman]

Sorry for all the hospital bashing posts lately... I am just over a year into practice and feel as I haven't even scratched the surface of shadiness of...

[OSman]

There is nothing unique that I do that would allow me to code it differently. I know that the exact same procedure is done in ASCs around the country....

[OSman]

Does anyone have experience with Interqual criteria for inpatient only procedures as it relates to admission status? Specifically my dilemma is as follo...

[OSman]

Tim wrote: It definately sounds like it’s more of an issue of responsibility for credentialing with insurance companies rather than compensation Click to expand... I think this is the bottom line. Shame...

[OSman]

fatlittlepig wrote: Lordosis wrote: I thought cycle bars were those bars that travel around touristy cities and are powered by the customers peddling. https://images.app.goo.gl/QiQ3D...

[OSman]

Problem with wRVU is being an oral surgeon I’d say 2/3 of my production is from dental codes (wisdom teeth and implants) for which there is no consensus...

[OSman]

Situation: Full time oral surgeon at local hospital. Just finished first year out of residency. Contract is compensation as a base salary vs 50% net ...

[OSman]

It seems okay to renew a discussion on the merit (or lack thereof) of buying turnkey properties as part of real estate portfolio. Yes I am maxing out ...

[OSman]

Consider how it would look in an audit... Its a lot easier to defend a truck for business use if you own a construction company. Claiming a 179 for a...

[OSman]

If its what you love to do then go for it. I am in year two of oral surgery career. I can't imagine a life of fillings, crowns, root canals when all I...

[OSman]

My wife just had our third child a couple weeks ago. I elected to keep the high deductible plan up until birth so could contribute 4 months worth to HSA...

[OSman]

I don't know the exact details of it but its an insurance company that is owned and operated by the insured oral surgeons so therefore claim the ability...

[OSman]

I'm so looking forward to having this problem someday!

[OSman]

Quick scenario, I am starting some side work outside of my regular 9-5 where my malpractice is covered within those confines. I originally thought I w...

[OSman]

Does anyone know of a good starting point to sift through health insurance plans/premiums for someone being paid solely as a 1099 doc? Mid 30s, healthy...

[OSman]

I just opened account with Redneck bank (subsidiary of All America Bank, FDIC insured). Reviews look promising and so far has been a seemless process....

[OSman]

TheDentist2021 wrote: I am currently a second year dental students. My students loans should be around 140k (being instate, living with my parents, saved about 15k the year before get...

[OSman]

ZZZ wrote: “By nature of working for the hospital, there is little transparency as to what % is collected.” Why isn’t that addressed in your contract. If your compensation is ...

[OSman]

Background: I am a dual trained oral surgeon practicing in a small/midsize midwest town since graduating residency in summer 2018. I am employed by a...

[OSman]

To OP, I agree with job shadowing. Keep in mind, shadowing dentists (generally required for admission to dental school) is INCREDIBLY boring. Its excitin...

[OSman]

Thanks for the advice everyone.. Really appreciate it. Thought I'd give a quick update. I filed my taxes as if I had contributed to the traditional IRA....

[OSman]

Great. I will try these things and keep everyone updated on how it goes. My last idea may be dumb so bear with me... but since I only need to fill out...

[OSman]

She eventually did regain employment and worked for the first 5 months of 2018 before we moved. So that unfortunately put us over the phase out range...

[OSman]

ENT Doc wrote: Yes you will need to file a Form 8606 for 2018 for a non-deductible IRA contribution. Can you not just put the contribution in now and wait on the refund to fill up whatever b...

[OSman]

Won’t I need to fill out part I of 8606 for 2018 taxes though?

[OSman]

Another Roth ?... I don’t currently have the funds but am expected to get a hefty return this year. I want to use that to fund 2018 Roth contributio...

[OSman]

One of the things I looked forward to while in residency was the prospect of finally being able to itemize my deductions. Between student loan interest,...

[OSman]

Re: HDHP... Just a thought. The birth of a child represents a qualifying event in which you can change your benefit plan outside of open enrollment ...

[OSman]

jfoxcpacfp wrote: Your employer account has nothing to do with your ability to contribute w/o tax implications to a backdoor Roth. You might consider shoving a bit more into...

[OSman]

Happy new year everyone! With the new year upon us I (and many) will be starting my first full calendar year with an attending salary (anticipating $400k). I h...

[OSman]

jfoxcpacfp wrote: The “initial licensing” fees are those paid for the right and privilege of practicing as a professional. After that, all related costs are deductible. Of course, if you are employed, employee busi...

[OSman]

Wow that’s very helpful. Thank you so much!

[OSman]

Hello all, Forgive me, I know there are a million posts regarding 1099 income but I could not find the answer to my specific question on any of them...