Pay back loans or interest?
I am a sophomore in undergrad. I received $3.3K in partial refunds from my university for housing & meal plan. My parents have taken PLUS loans, and I have federal student loans (subsidized and unsubsidized) in my own name. My thinking is to put that $3.3K back into the PLUS loans, but my parents think for some reason that it might be better to use the money to pay the interest instead, so we can claim it in taxes. We're an immigrant family, and are still learning to navigate our way through... Pay back loans or interest? (Source: Student Doctor Network)
Source: Student Doctor Network - June 4, 2020 Category: Universities & Medical Training Authors: gardalina Tags: Financial Aid Source Type: forums

Any hard data on Canadian Family Physician Net Income?
I have been looking for information on what the net income for a Canadian outpatient FM doc who sees an average number of patients would look like. I haven't seen much solid information on the internet about it. I know family docs are frequently quoted as having 20-25% overhead and the numbers I see most often seems to be 275,000 (gross pay, before taxes and overhead). I'm not sure how the tax works after that, and I know physicians frequently "incorporate" themselves to reduce taxes but it... Any hard data on Canadian Family Physician Net Income? (Source: Student Doctor Network)
Source: Student Doctor Network - May 18, 2020 Category: Universities & Medical Training Authors: fullmetal Tags: Canada Source Type: forums

Off topic -- Anyone have Solar installed recently
As a married couple that both bring in>150K and no kids we get pretty killed by taxes. We do HSA, Max 403B, etc but still looking for ways to minimize taxes. Solar has come to mind since there is a tax credit, it's good for the environment, it will save us some money (10 year plan) and increase the property value of our home slightly (not dollar for dollar) Has anyone on here done solar? Thoughts if it's worth it? I know this is off topic so sorry if this isn't allowed Sent from... Off topic -- Anyone have Solar installed recently (Source: Student Doctor Network)
Source: Student Doctor Network - May 1, 2020 Category: Universities & Medical Training Authors: msweph Tags: Pharmacy Source Type: forums

Getting CA residence in dental school (dependent relative)
Im starting dental school in CA this year and am OOS, and was wondering if anyone knows if you are able to switch state residency as a dependent relative under parents in another state. They are going to be assisting me in paying for some of dental school and we were trying to see if Id be able to obtain CA residency if they also report me as a dependent relative on next years taxes (Source: Student Doctor Network)
Source: Student Doctor Network - April 27, 2020 Category: Universities & Medical Training Authors: futurefuture5970 Tags: Dental Source Type: forums

Tuition money
Have you ever wondered where your student loan money are going at "non-profit" schools such as Midwestern University? It's going to hoards of administrators getting rich on taxpayer dollar. One day we will recognize these people as parasites of the educational system. In no other country, is higher education such a lucrative business scheme. Midwestern University, Full Filing - Nonprofit Explorer - ProPublica Since 2013, the IRS has released data culled from millions of nonprofit tax filings. Use this database to find organizatio...
Source: Student Doctor Network - April 24, 2020 Category: Universities & Medical Training Authors: allantois Tags: Pre-Dental Source Type: forums

Anybody know if dental students on loans get the $1200 alotted to those making less than 75k from the CARES bill?
I didn't file any taxes because I don't have an income and am living on loan money. Does anybody know if those of us in this situation will get the $1200 as well? This is more info on what I was talking about: What's Inside The Senate's $2 Trillion Coronavirus Aid Package The economic relief bill provides help to individuals, businesses, hospitals, as well as state and local governments. Here are the details. www.npr.org (Source: Student Doctor Network)
Source: Student Doctor Network - April 5, 2020 Category: Universities & Medical Training Authors: Roy Williams Tags: Dental Source Type: forums

A run on the ABO?
Re: Oral boards postponed Given the situation, I have asked for a refund. I encourage others to ask for a refund as well. I believe there are major issues with the oral/written board process in ophthalmology, and I have heard older Docs express their dissatisfaction with the ABO relating to Maintenance of Certification. Looking at their taxes, they have around 5.5 mil in net assets, 5 mil in essentially fixed costs per year, and their CEO makes ~ 700K a year. If all candidates ask for a... A run on the ABO? (Source: Student Doctor Network)
Source: Student Doctor Network - April 4, 2020 Category: Universities & Medical Training Authors: medphysik2015 Tags: Ophthalmology: Eye Physicians & Surgeons Source Type: forums

With the avg dental school debt being 400k, please explain your strategy to conquering this enormous debt when the intrest atm is reaching 8%.
I have heard of many paths people have taken and the most prominent one sounds awful. Less known: NHSC and HPSP scholarships: can't rely on them as getting in is ultra cutthroat competitive even with a 4.0 gpa and a 25 DAT. Most prominent: paying around 4-5k per month of your 7k dental associate salary after taxes for 10 years. You would be living with around 2k to spare for living/gas/insurance/food/etc. Living with less to spend then a elementary school teacher after getting your... With the avg dental school debt being 400k, please explain your strategy to conquering this enormous debt when the intrest atm is reach...
Source: Student Doctor Network - March 27, 2020 Category: Universities & Medical Training Authors: FutureDoc2001 Tags: Dental Source Type: forums

Just got admitted yesterday, considering asking for deferment
Hi y'all, any advice would be amazing. I was admitted into medical school yesterday, March 18th, and am considering asking for deferment for several reasons ultimately consequence of the pandemic. The deposit. I have 12 days, including today, to come up with a $2,000 deposit and then another 14 to come up with another $1,000 deposit. I only make $1,600/ month after taxes and physically can't come up with either amount in this timeline. My divorced parents are upper middle class and... Just got admitted yesterday, considering asking for deferment (Source: Student Doctor Network)
Source: Student Doctor Network - March 21, 2020 Category: Universities & Medical Training Authors: shortstack97 Tags: Medical Students - DO Source Type: forums

Roth IRA vs Mutual Funds
My understanding of the new SECURE act is that an inherited Roth IRA must be distributed within 10 years and that the beneficiary does pay income tax on it. With that in mind, would it make sense to use the $ 12,000 (for a couple) that would normally be used to invest in Roth IRA, to just buy non- retirement account mutual funds? From what I know, inherited mutual funds get “stepped up” to their value on the day of death and then taxes are paid based on that, but is there a “must... Roth IRA vs Mutual Funds (Source: Student Doctor Network)
Source: Student Doctor Network - March 20, 2020 Category: Universities & Medical Training Authors: FutureInternist Tags: Finance and Investment Source Type: forums

Re: Cardiologist is awarded £870 000 after he was sacked for raising safety concerns; spending taxpayers & #039; money to defend vendettas
(Source: BMJ Comments)
Source: BMJ Comments - March 15, 2020 Category: General Medicine Source Type: forums

Yes as an EM doc, money is more important to me than serving underserved
those group of population is just waste of our taxpayers money anyway. Screw teamhealth. We all should demand 400 per hour at least. Not happy to see fake sick people for less than 200 per hour. Sad. Even donald trump the fake news a$$ gets more respect (Source: Student Doctor Network)
Source: Student Doctor Network - March 8, 2020 Category: Universities & Medical Training Authors: YoungEMdoc Tags: Emergency Medicine Source Type: forums

Lost In the process. No Navy HPSP students in my class.
Missed out on the slots for ODS, no idea how to get uniform, no idea what I am supposed to be doing ever since my recruiter ran off to her new post (there are vineyards she is a happy lady). Family served enlisted in the 80's so not much help. The only thing that reminds me I am an HPSP student is that check in the mail. Is active duty pay automatic? Do I just do my own taxes like normal? How do you be a competitive resident, is research as important, volunteering, work experience? Who do I... Lost In the process. No Navy HPSP students in my class. (Source: Student Doctor Network)
Source: Student Doctor Network - March 5, 2020 Category: Universities & Medical Training Authors: asclepius.scholar Tags: Military Medicine Source Type: forums

Taxes
We as dentist get screwed in paying a lot in taxes while being burdened by high taxes. So lets hear it. What are you doing to pay as little taxes as possible? I have heard that you can setup a DSO of you own (management company). Aside from the s-corp model of paying a lower salary and getting K1 for reduction of payroll taxes and maxing out 401k/qualified retirement accounts, what strategies are y'all employing? (Source: Student Doctor Network)
Source: Student Doctor Network - February 9, 2020 Category: Universities & Medical Training Authors: thewingman Tags: Dental Residents and Practicing Dentists Source Type: forums

Chance of being forgiven $450K in student loans with IBR?
Are federal loans grandfathered in? I plan on borrowing $350K, in loans, and I calculated that if I start IBR during residency, maybe take a year off to do MSF, and work as a physician at a hospital that gives 8 weeks PTO a year (I'll be willing to take a lower salary or work in a public university hospital. Lifestyle>>Salary), I will probably still OWE the government $450K. I will only owe $100K of taxes on the $450K, which I plan on either saving up for over 25 years or maybe working with... Chance of being forgiven $450K in student loans with IBR? (Source: Student Doctor Network)
Source: Student Doctor Network - January 19, 2020 Category: Universities & Medical Training Authors: Magyarzorag Tags: Medical Students - MD Source Type: forums

Step 3 Tax Deductible?
All I can find is a 10 year old thread where it says it isn’t tax deductible, but I can’t find the most recent info. Some residency programs don’t pay for step 3 and I was wondering if it could written off on taxes as an expense? What about any study materials/books/things we may need for residency? (Source: Student Doctor Network)
Source: Student Doctor Network - January 19, 2020 Category: Universities & Medical Training Authors: samac Tags: General Residency Issues Source Type: forums

Roll over 403b to Roth IRA?
I have approx 200K in 403b from previous job. The new job is a non-profit so I can roll over to their 401k. Another option is to pay taxes on it and roll over to Roth IRA (can pay taxes from savings and hence would roll over all of it) Initially I was thinking that the Roth IRA would be solely for our kid, and that we would rely solely on 401K, 403b etc for our rerirement. Additionally, since the max Roth IRA for a couple is 12K per year, I could “gain” 16 years of contributions by doing... Roll over 403b to Roth IRA? (Source: Student Doctor Network)
Source: Student Doctor Network - January 4, 2020 Category: Universities & Medical Training Authors: FutureInternist Tags: Finance and Investment Source Type: forums

RVU and Salary/Compensation
For the first time, my job sent us a clear profile of how much work RVU (wRVU) we produced for the last year. I work in a base plus RVU model in academics and there are tons of little "taxes" taken out of my paycheck each month to support various med school/department things. I'm not sure if I'm getting just a little or a lot screwed by my current compensation model. What would be considered good compensation per wRVU? I've tried searching the web, but there appears to be no consensus. This... RVU and Salary/Compensation (Source: Student Doctor Network)
Source: Student Doctor Network - January 3, 2020 Category: Universities & Medical Training Authors: GatorCHOMPions Tags: Emergency Medicine Source Type: forums

Let me show you the true cost of going to an expensive private school
These school expenses are getting so ridiculous. I didn't realize tuition+fees for these schools are 100,000 dollars. Let me show you just how much this costs if you go to a school like this. Income: $200,000 After taxes: ~$140,000 Loans: 550k with 6% interest 15 year payoff: $4,600 monthly or $55,000 yearly into loans. That means you have $85,000 left over each year. This is the equivalent of a person with $115,000 salary for the next 15 years of your life 10 year payoff: $6,100 monthly... Let me show you the true cost of going to an expensive private school (Source: Student Doctor Network)
Source: Student Doctor Network - December 30, 2019 Category: Universities & Medical Training Authors: Awarara Tags: Dental Source Type: forums

Just made my first Student Loan Payment and It was Empowering
Only 239 payments left to go before i'm debt free! How is everyone else debt repayments going? I'm on REPAY, been on EBT (government food stamps) and semihomeless. I haven't had a tax return in over 7 years because I haven't filed taxes in that time period due to not having work (Not technically true because I made around 17 cents from Youtube views on my channel but I havn't got paid for that yet). It was very easy to get on REPAY after telling them my situation. The student loan... Just made my first Student Loan Payment and It was Empowering (Source: Student Doctor Network)
Source: Student Doctor Network - December 22, 2019 Category: Universities & Medical Training Authors: LivingMyBestLife Tags: Pharmacy Source Type: forums

Thoughts about Elizabeth Warren's New Health Plan?
Elizabeth Warren’s plan to pay for Medicare-for-all, explained She shows how she would pay for it without raising middle class taxes. www.vox.com Seems like this will be hitting physicians directly, at least based on this explanation, what are people's thoughts about this and the impact it will have on students trying to pay of their loans? (Source: Student Doctor Network)
Source: Student Doctor Network - December 2, 2019 Category: Universities & Medical Training Authors: Chromium Surfer Tags: Topics in Healthcare Source Type: forums

Tax deductions
New attending here. Wanted to tap the wisdom of my EM veterans. I am an IC with a LLC taxed as an S-Corp. What all should I be deducting as business expenses for maximal tax savings? (Source: Student Doctor Network)
Source: Student Doctor Network - November 7, 2019 Category: Universities & Medical Training Authors: onlyletters Tags: Emergency Medicine Source Type: forums

How do people survive off intern salaries?
Just as the title states.. I'm looking at certain internship sites like The Animal Medical Center in NYC, and they pay a salary of 27k... But this is NYC we're talking here with crazy ass prices. I don't even think the salary after taxes will even cover rent let alone other expenses like food, insurance, etc. How do these hospitals expect these interns to survive?? (Source: Student Doctor Network)
Source: Student Doctor Network - October 31, 2019 Category: Universities & Medical Training Authors: Nalra095 Tags: Veterinary Source Type: forums

Do you have a financial guy or cpa?
So my financial life is getting a lot more complicated with traditional to roth conversions, 2 w2 income, 2 or 3 1099 incomes, schedule C deductions for my sole proprietor llc, 3 broker accounts with trading activity. Plan of switching taxation status to S corp in 2020 instead of sole proprietor. So far I've done everything myself. I can still probably pull off 2019 tax year with turbo tax. I didn't have any issues last year with schedule C deductions. But it will take me 6 or so hours to... Do you have a financial guy or cpa? (Source: Student Doctor Network)
Source: Student Doctor Network - October 27, 2019 Category: Universities & Medical Training Authors: cyanide12345678 Tags: Emergency Medicine Source Type: forums

Is Pharmacy Financially Worth it? (An Open Letter to Prepharms)
Is Pharmacy Financially Worth it? Probably not. If you have to take out 150-200k loans? Definitely not. I know quite a few of you are considering expensive private schools and taking out huge loans to go to pharmacy school. Here is a my attempt to show you why it is not a great idea. To preface, I'm not married and have no kids. I take home about 5300 a month after taxes and retirement savings in a state with no income tax, not alot compared to some of the guys on the forum... Is Pharmacy Financially Worth it? (An Open Letter to Prepharms) (Source: Student Doctor Network)
Source: Student Doctor Network - September 29, 2019 Category: Universities & Medical Training Authors: Saiyo Tags: Pre-Pharmacy Source Type: forums

Discussing the "reality" with fellow classmates
Rising P3 here on a LOA. I just got off the phone with my good friend who's still in pharmacy school. I was talking about how I saw a post on reddit (and frankly seeing everywhere now after some research) about how if you do the math, as a new grad getting 80k a year, 60k after taxes, so 5k a month - 2k a month for student loans at 200k (the average for my college), so you take home 3k, at 36k-50k a year for about 10 years. And the redditor also added up the mortgage/rent, car payments... Discussing the "reality" with fellow classmates (Source: Student Doctor Network)
Source: Student Doctor Network - August 28, 2019 Category: Universities & Medical Training Authors: Mcpickle Tags: Pre-Pharmacy Source Type: forums

More trouble on the horizon for IBR
“In response to the report, Department of Education Secretary Betsey DeVos said it further proves there is ‘significant risk in the federal student loan portfolio.’” Americans committing fraud to lower student loan payments? Taxpayers could bear cost A new report showed that people might be lying about their income and family size. www.foxbusiness.com Big Hoss (Source: Student Doctor Network)
Source: Student Doctor Network - July 31, 2019 Category: Universities & Medical Training Authors: Big Time Hoosier Tags: Dental Residents and Practicing Dentists Source Type: forums

Steps into Medicine/Paediatrics
Thread Starter Steps into Medicine/Paediatrics Follow 4 hours ago 4h ago Quote: Originally Posted by Democracy University = the five or six years of medical school. Once you finish medical school and start the foundation programme (FY1 and FY2) you are a fully quali...
Source: The Student Room - July 26, 2019 Category: Universities & Medical Training Authors: RChelol Tags: Medicine Source Type: forums

California doesn ’t have enough doctors. To recruit them, the state is paying off medical school debt
California doesn't have enough doctors. To recruit them, the state is paying off medical school debt California will spend $340 million paying off doctors’ debts. In exchange, doctors must pledge that at least 30% of their caseloads will be devoted to Medi-Cal patients for five years. www.latimes.com Reporting from Sacramento — Bryan Ruiz’s hands were still shaking an hour after he learned the $300,000 in medical school loans he took out to become a dentist were being wiped away by California taxpayers. A year out of medic...
Source: Student Doctor Network - July 17, 2019 Category: Universities & Medical Training Authors: CidHighwind Tags: Medical Students - MD Source Type: forums

Marriage
Pharmacists make six figures. I make around 190,000 after 401k. I am getting taxed so heavily (California) and with student loans to boot. Does marriage (to someone of lesser income) make a big difference for you all? The 2018 bracket listed up to 315,000 thousand dollars to reside in the 24% bracket. Whereas I am at 32% with my sub 200,000 gross income. I have been together with my SO for over 3 years. Is it a good decision? (Source: Student Doctor Network)
Source: Student Doctor Network - July 5, 2019 Category: Universities & Medical Training Authors: Twentytwelve2 Tags: Pharmacy Source Type: forums

Bernie Sanders Proposal to Forgive $1.6 Trillion on All Student Loan Debt
Bernie Sanders unveils plan to cancel all $1.6 trillion of student loan debt Sen. Bernie Sanders unveiled a plan to cancel $1.6 trillion of student loan undergraduate and graduate debt for approximately 45 million people. His ambitious plan has no eligibility limitations and would be paid for with a new tax on Wall Street speculation. www.wtva.com No pre-qualification or limit cap. Anyone and everyone that has student debt will have it all forgiven. How? Taxing Wall Street on stock trades, bonds, and derivatives. For those current pharmacists with...
Source: Student Doctor Network - June 25, 2019 Category: Universities & Medical Training Authors: BC_89 Tags: Pharmacy Source Type: forums

How to handle family loans for tuition?
Hey everyone! I have been accepted to CDMI class of 2023. It being a private school it is on the expensive end so my grandparents are wanting to loan me all of the tuition at little to no interst rate so I can avoid federal loans. I am researching the best way for them to loan me the money to minimize taxes and fees and was wondering if anyone was in a similar situation and if so how did you handle it? (Source: Student Doctor Network)
Source: Student Doctor Network - June 5, 2019 Category: Universities & Medical Training Authors: Micpenn4 Tags: Dental Source Type: forums

Not withholding tax?
Might be a dumb question, but any of you do this? I figure not having your hospital withhold your tax gives a significant temporary boost to investable income. Even if you put it in a high saving account and get 2% interest.. can still get like 1000$ extra a year? Then just pay the taxes due during tax season. Am i missing something? (Source: Student Doctor Network)
Source: Student Doctor Network - May 24, 2019 Category: Universities & Medical Training Authors: anbuitachi Tags: Anesthesiology Source Type: forums

What do you invest in?
I am curious on to how us hard-working pharmacists invest our money outside of our retirement accounts. Do you invest in real-estate? Have a side-businesses? Are you a successful gambler? I've done some real-estate investing myself and made about 20K after taxes. So far only one project.... (Source: Student Doctor Network)
Source: Student Doctor Network - April 8, 2019 Category: Universities & Medical Training Authors: PharmaSex Tags: Pharmacy Source Type: forums

Comparing healthcare systems
Thread Starter Comparing healthcare systems Follow 2 hours ago 2h ago Hey ppl. The British and French Healthcare systems are quite similiar. Taxpayers money in both economies goes to a social security/National Insurance. Hence we sort of are insured in both countries for health ... but they're so ...
Source: The Student Room - June 23, 2018 Category: Universities & Medical Training Authors: JazzyL Tags: Medicine Source Type: forums

Should I even Bother with Medicine?
Thread Starter Should I even Bother with Medicine? Follow 6 hours ago 6h ago Quote: Originally Posted by mc_miah This is the reason why i'm debating entering into medicine, more specifically Dentistry. Cmon, face it all of dentists love the money; maybe it's not al...
Source: The Student Room - June 14, 2018 Category: Universities & Medical Training Authors: Hidan Tags: Medicine Source Type: forums

Re: Drugs should be legalised, regulated, and taxed
(Source: BMJ Comments)
Source: BMJ Comments - May 18, 2018 Category: General Medicine Source Type: forums

Which state to claim residency in?
I lived in California my whole life, but moved away for college. My whole family is still there and like most other students from California, I obviously want to go back. However, after college, I moved to Virginia for work during my gap year. I still have my CA license and am registered to vote there, but I pay rent and taxes in VA... I think the smart thing for me to do is do apply as a VA resident to MD schools because my stats are not amazing enough to give me a good shot at CA schools,... Which state to claim residency in? (Source: Student Doctor Network)
Source: Student Doctor Network - May 17, 2018 Category: Universities & Medical Training Authors: Hopeful_student Source Type: forums

Re: Drugs should be legalised, regulated, and taxed
(Source: BMJ Comments)
Source: BMJ Comments - May 16, 2018 Category: General Medicine Source Type: forums

neurosurgeons
Thread Starter neurosurgeons Follow 1 hour ago 1 hour ago Quote: Originally Posted by Dreamer20 i see. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC1169547/ apparently it can go upto £190,000 a year. i imagine the ones paying very high MMI will be more senio...
Source: The Student Room - May 15, 2018 Category: Universities & Medical Training Authors: Stanspam Tags: Medicine Source Type: forums

Re: Drugs should not be legalised, regulated, and taxed
(Source: BMJ Comments)
Source: BMJ Comments - May 15, 2018 Category: General Medicine Source Type: forums

Re: Drugs should be legalised, regulated, and taxed
(Source: BMJ Comments)
Source: BMJ Comments - May 14, 2018 Category: General Medicine Source Type: forums

Re: Drugs should be legalised, regulated, and taxed- BAD IDEA
(Source: BMJ Comments)
Source: BMJ Comments - May 14, 2018 Category: General Medicine Source Type: forums

Re: Drugs should be legalised, regulated, and taxed
(Source: BMJ Comments)
Source: BMJ Comments - May 13, 2018 Category: General Medicine Source Type: forums

Re: Drugs should be legalised, regulated, and taxed. How can they be when lower standards than for pharmaceuticals are inevitable?
(Source: BMJ Comments)
Source: BMJ Comments - May 10, 2018 Category: General Medicine Source Type: forums

Re: Fight childhood obesity with multiple methods, not just more taxes, MPs hear
(Source: BMJ Comments)
Source: BMJ Comments - May 7, 2018 Category: General Medicine Source Type: forums