Podcast/Blog Posts

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The Top Advantages Of Real Estate Professional Tax Status
Real Estate Professional Status (REPS) gives individuals unique tax benefits that can significantly impact their financial outcomes (especially physicians and dentists). The Internal Revenue Service (IRS) sets strict guidelines to qualify for real estate professional tax status, which offers...  Read More
Does Forming an LLC Really Protect Personal Assets?
Starting a business involves many crucial decisions, including which legal structure to set up. One popular option is forming a Limited Liability Company (LLC). An LLC offers several advantages, such as privacy, tax benefits, and, most importantly, asset protection. Understanding how an LLC...  Read More
Episode 159 - Dr. Baird's Dental Leadership hack
“What do you think it does to your team when the first thing they see in the morning is a frowny face?” ~Dr. Bruce B. Baird I’ve told you the story about the smiley face frowny face. When I was a young dentist my team would put a smiley face on the board if I was in a good mood that morning, and a...  Read More
The Patient First Podcast Episode 97: Why a Dentist Was Fined $80,000 for Doing Nothing
Dentists have enough to worry about as it is with the ever-present fear of a malpractice lawsuit hanging over their heads. One wrong move, and they can say ‘goodbye’ to their dream of running a profitable practice. The bad news is that, as three dental practices recently experienced, dentists now...  Read More
The WealthAbility Show #142 - Retirement w/ Andy Tanner [7/7 Series Pt. 1]
Retirement [7/7 Series Pt. 1] Are you thoroughly prepared for your retirement? Have you decided which plan is best for your dreams ahead? In this episode, Andy Tanner joins Tom in discovering how the government incentivizes Qualified plans to build retirement savings, and what strategy is...  Read More
How To Make Money With Commercial Real Estate Investing
Investing in commercial real estate can be a lucrative way to build wealth and diversify your investment portfolio. This sector comprises various property types, from office spaces and retail buildings to industrial units and apartment buildings. It’s particularly attractive for busy, high-income...  Read More
Real Estate PPM: Mitigating Risk and Maximizing Return on Investment
If you’ve been reading this blog or watching some of my , you know that real estate syndications are one of my favorite investments. In 2017, my first investment was an apartment syndication in Dallas. It was nerve racking to go through the process the first time as a passive investor. From reading...  Read More
How To Avoid Depreciation Recapture Tax On Rental Property
One of the reasons that kept me from investing in rental real estate was trying to understand what all of the terms meant. Trying to learn this brought back vivid memories of dental school where it seemed that the teachers were speaking a differerent language such as:     Bruxism     Edentulous  ...  Read More
The WealthAbility Show #141 - Insurance w/ Kim Butler [6/7 Series]
Insurance [6/7 Series] Have you considered the benefits of investing in life insurance? Or how the different functions can uniquely alleviate stress for our loved ones? In this episode, Kim Butler joins Tom in exploring the world of life insurance, how it all works and benefits business,...  Read More
Real Estate Depreciation: #1 Tax Strategy for Busy Professionals
As a dentist, you probably fall into the highest tax bracket (37%), which is a significant expense. When I started my own dental practice from scratch, I bought a new office along with equipment to furnish it. My CPA told me that I could save money on taxes with an annual depreciation expense and a...  Read More
Episode 59 - Hire the People Who Believe in You
“My office manager is my right hand, she is someone I can 100% rely on to understand the vision of the practice and drive to that.”  ~Dr. Clint Euse Hire the people who believe in you.  That might sound daunting, especially right now when there’s a shortage of employees in the dental industry, but...  Read More
Multifamily Real Estate Syndication: A 2023 Investment Guide
Are you interested in real estate investing but struggling with how to juggle a full-time career plus dealing with tenants? If so, then you may want to consider investing in a multifamily real estate syndication. This type of investment involves pooling resources with other investors to acquire and...  Read More
How To Use a Self Directed 401k Plan For Retirement
I’ll never forget the email I received from a new  member who had recently discovered the possibility of using their “locked up” retirement account money to invest outside of the stock market. After graduating from dental school, his retirement plan looked like everyone else’s:     Set up a 401k  ...  Read More
Episode 157 - The #1 Thing That Sabotages Dentists
“I see dentists who learned what they learned and pretty much everything goes downhill after that. ” ~Dr. Bruce B. Baird It doesn’t matter if you’re in your 20s, 30s, 60s, or 70s…it can happen at any time in your career. All of a sudden you start feeling old. That thought process starts creeping...  Read More
Mobile Home Parks: The Hidden Gem of Real Estate Investing
When I first considered investing in commercial real estate, a few scenarios came to mind, such as buying a a handful of single-family homes or a medical/dental office building. But one asset class that I’d never given much thought to were mobile home parks.  Although they’re fairly common in...  Read More
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