LocumCRNA.com and a new investing page?

I’m thinking it might be interesting to go through investments?  We work hard and make a decent income. What do we do with that income, or how do we invest and protect our investments? 

I’m thinking about using my continuous growth in showing what I have been up to on the investment space.  I can show the websites and what I’m working on in that space.  I can go through real estate holdings and what that looks like.  Not to forget sep IRA V’s Solo 401k and stock market investments.  Then businesses and the different types of investments that I look at and consider. 

I wonder if this is something you would want as a page as it only somewhat relates to our site because locums is the way I finance life and the investments?  

Change is inevitable

It’s Thursday and I’m in my last two days of Massachusetts. This is what I’m doing.  I’ve confirmed my credentials for Texas and started the credentialing in Virginia. Virginia is a different group as the previous took 8 months and came back with telling me I would have to resubmit everything and starting over.  I’ll never deal with a group that does that again.  

So, I’m preparing my luggage and work bags.  I’m making sure copies of hotel bills are sent to the agency.  I’m making sure the final hourly bill is sent tomorrow after work.  I’m slowly packing and getting things ready to go.  I’ll be doing homework the next two nights so more time can be spent with family when I get home.   

I sent in my foreign corporation documents by fax and mail to Texas.  This took 4 minutes from searching the foreign corporation and Texas Secretary of State.   

Min the meantime I’ve been in contact with my accountant.  Talking about the change of location.   

I’ve tracked my route to Texas and planned the day of start in Texas so that all is ready and done for a good and quick start.  I have a badge and person that I’m meeting.  Hotel is set and ready to go.  Seems all I need to do is show up and get started. 

Otherwise we are working on the real estate.  We are offering currently on another potential rental, but we are only getting it if it’s at a deal level. The market is turning again to a buyer level in some environments like where I invest, YouTube for Francisco (growing and getting ready to monetize with ads), and getting Elizabeth set for schools and bank accounts (preparing to pay her annually for work). We are finally hunting for what may be our November vacation as we haven’t done a just Francisco and I vacation in a year or two ;).  The journey continues.   

Is it difficult to set-up a sep-IRA?

I have been a CRNA for quite some time, as you might be aware.  I have tended to keep my earnings and retirement away from the stock market.  As many would chastise me for not taking advantage of tax sheltering, and even I wish I were a better saver.  

I have always invested in real estate.  For a while it was my own home.  Then it was the start of rental property in Kansas.  I am still invested in Kansas and started on my current home in Virginia.  

I have avoided the stock market though.  I have used an E-Trade account as if it were a casino.  I haven’t been an investor but a speculator.  I have invested over the years in the military Thrift Savings Plan ... 1% for 9 years... you know how little that is.  I forget to take time to learn about those things.  I know I need to shelter my taxable income so I am actually doing this.  

I went for weeks totge website for Vanguard but then they said they couldn’t verify me.  Then I had to fax things for the Solo 401K but... I missed 2017.  So, I decided I would do a simple Sep-IRA if I could.   

I was checking my E*TRADE to make sure my Roth IRA transaction went through and then I had an epiphany.  Why not try to set up just an IRA.  I saw the set-up a retirement account button and so I clicked on it.  Bam, Sep-IRA option right there.  Two minutes later i had $6k coming out of my account to fund a Sep-IRA for 2017.  I have until my taxes are filed toget those dollars cought up. I would prefer a Solo-401k but I didn’t get it set-up in 2017 which means no $$$ can beplaced in it for 2017.  So, i now have a sep and I’m working on saving a tax bracket or two by saving more pre-tax dollars toward retirement as my rentals are post tax.

Is it possible to invest in retirement with real estate?  Yes, but have I done this... no.   

Every year, I will try to be more active in my tax planning and save betterfor my family and child or children (someday).   

Taxes and Investing

Many times our default is to say I don't know anything about taking care of the taxes or the accounting.  Maybe it's time we take on the task of learning as we continue in the understanding of the business of anesthesia.  

I'm not that smart and I don't know either investing or tax code.  But, I am taking control of the time to learn about these things.  I'm investing in my own understanding so that I can utilize the Locum world and combine it in order to provide for the family without providing more than my share to uncle sam, provide educational opportunities to my family, and increase my available time home.  I have to save the taxes in order to fund the financial/investing side.  I currently invest in real estate but hope to someday expand on that into the business, real estate, and stock markets as I learn.  

What are you doing?  I ask this not to sound like I'm doing much but just to be real.  I take the time to learn in each aspect by reading the business books, listening to podcasts, and continuing to ask questions.  

Recommended learning... Consider listening to the Bigger Pockets Podcast on Real Estate.  They have two Tax episodes by Amanda Han... so I would listen to those.  The application is to the 1099 type of income however passive income is different than active... so be careful on the full application.  Business books that I like include things like 4 hour work week (not for the 4 hour part but understanding how to maximize your time), Rise and Grind (the effects of early work and long term benfits), and Motivational books that will inspire increased relationship building.  

That's all I have for today.  

How can I help?

I think some are confused at this point.  I think some of you truly think I'm a recruiter for BlocHealth or National Anesthesia or some other company.  Some think that I'm some fancy dude that is just rolling in bank.  I hate to tell you that this is just so far from the truth.  

I'm a CRNA.  I've been a CRNA since December, 2009.  I have made my way through the locums world since 2011 and have been relatively happy.  I share my experiences and what I've learned along the way.  Yes, I've learned the hard way because honestly half the most out-spoken people just don't know everything and if they say they do... ask yourself if you know everything after being a XYZ of 10-20-30 years.... I'm betting the answer is no.  I prefer to state that I'm no lawyer or accountant but this is my experience, as it's the truth.  I'm not a financial expert or licensed as such so to give counsel... I can't do that.  I can tell you the things I have done or the people I have talked to.  

I can tell you what has and hasn't worked for me.  That's what this site is about, educating you so you don't make the same mistakes I have or collectively understanding where we are and where we go from here.  Giving you options and helping you to be able to figure out decent people to work with.  I can't tell you they are all perfect because part of the information is gathered from our peers to make this a more wholistic site.  I'm trying to give you all the information and not just one perspective.  

So, I'm not a recruiter because I don't call hospitals and get contracts for work.  I don't place CRNAs with hospitals or groups. I ask people to say that I referred them to all the agencies (when this site is instrumental in doing so) when they are going to go the agency route as the referral helps me make this site stronger for you and helps support the number of hours put into this resource. 

How many have looked at the other links at the bottom of the main page?  Anyone see the Store, Financial information that has Accountants and Financial advisers, Mortgage information, and maybe even the Where we go page that has the article by one of our own on RV'ing it across the country?  Take a moment to see all there is to offer.  Jobs come and go from the job board too.  

Any time I discuss with someone I try to make sure I ask.. How can I make this better?  What would help you more?  So, I'll leave you with my E-mail LocumCRNAs@gmail.com  

I did get a request from an undergrad resource wanting to place links to anesthesia schools and feel that first one has to be done with school and should get their practice down before considering locums... so unfortunately, I declined that request.  I'm trying to keep this a clean but solid resource.  so... How can I help?

Cleaning out the office

It has to be done right.  Organization, files, and keeping the house in order.  Just like updating your credentialing, reviewing your licenses to see which ones are coming up for renewal and ensuring the CEUs are all up to date, and finally ensuring the CV has your affiliations, contacts, npi, coi, etc etc etc  all up to date. 

Not an easy task as I continued on the road for a while and returned home to stacks of paperwork.  Yes, my office is a general mess at any given time.  I start to file and realize I don't have files for everything.  I then write out a list for the store so I can get the files and then something happens.  Then Francisco comes in and says hmm... I'll make it neat and clean in here and all my papers are neatly stacked in the same mix of OMG stuff that never was sorted or filed away.  

Long story short... get the files in order.  Just like all those credentialing items you need to have in a file ready to go at a moments notice.  Just like the CV being up to date.  Your office needs to be organized enough that you can tell your partner, child, mom or dad, or maybe even a neighbor... whomever is there to go look for that one thing you need while you are on the road. 

There will be something that is missing, unless you moved your whole life into an RV and sold every possession (ie no storage or other).  Someone will have to look for something you need at some point.  We've all been there.  

This is my week.  I'm off.  I only have a few Pampered Chef things.  I only have an application for school to do.  Francisco flies out for the weekend and mom flies in for the weekend.  This will get done.  I'm excited to get going.  I ordered additional files from Amazon so I wouldn't get sidetracked.  I'm ready for an exciting office day.  

This is also time to review insurance, investments, IRAs, Accounting documents, and those business pieces that keep you going even when your working.

Breaking down the new tax bill into layman's terms!

As an accountant, it has never been a more important time to model out scenarios for taxpayers of tax options this year versus next year.

First things first, the effect of the upcoming tax season will not be significant as almost all of the provisions are effective in 2018.

That being said, here is a checklist of things taxpayers should consider doing by year's end:

-Prepay 2017 state income taxes.

-Accelerate any of your children's unearned income into 2017 (rates go up in 2018).

-Push business income to 2018 (rates go down in 2018, plus deduction).

-Buy & place in service an electric car (tax credit expires at end of 2017).

-Recognize any possible business losses (they will be limited in 2018).

-Prepay investment expenses in 2017 (nondeductible in 2018).

-Pay any moving expenses related to a job in 2017 (the deduction is eliminated in 2018).

-Sell any business processes or patents before the end of the year (this will be treated as ordinary income in 2018, & is capital gains in 2017).

-Wait to buy a business vehicle until 2018 (depreciation on luxury autos goes up substantially in 2018).

Additionally, here is a link to a slideshow list that explains 13 other changes that will result from the new tax bill:

http://www.taxprotoday.com/list/the-congressional-deal-on-tax-reform

Now, more than ever, it is going to be vitally important to seek sound professional tax advice to help you navigate your way through all of these new complex changes.

If this information has proven helpful, please "Like" our page, CMM Financial Services, on Facebook.

https://www.facebook.com/CMM.Financial.Services/

We would also love for you to consider having our firm prepare your 2017 tax return. To RSVP for this upcoming tax season, simply click “Going” on this Facebook event:

https://www.facebook.com/events/286839671822261/