By Michael Jarvie, CPA, CFP, SVP Business Development
In this special multi-part series, we’re bringing together financial advisors from across the healthcare industry to help educate you on the decisions, challenges, and opportunities that come with growth, transition, and long-term planning.
Every advisor brings a different perspective to the table, and through this series, we hope to give you practical insights that help you better navigate the road ahead.
A great deal can still fall short if taxes aren’t part of the strategy. Few business owners spend time planning for what happens after the transaction closes and the tax impact that follows.
In this episode of The Advisor’s Table, Brian and Michael sit down with Senior Wealth & Tax Advisor, Carson Henderson, from Earned to understand how proactive tax planning can change that outcome.
They explore how tax-loss harvesting strategies can be used for business owners after a large capital gain and how far ahead you should be thinking about implementation. Carson shares examples of healthcare owners who have executed these strategies through a private equity sale and a private doctor-to-doctor sale.
“While tax-loss harvesting has existed for some time, it was largely reserved for ultra-high-net-worth individuals. Today, with advancements in technology, more business owners have access to strategies that can help reduce their tax burden and better position them for long-term financial success in retirement.”
Key Takeaways for Healthcare Business Owners:
- Starting this process early produces better results. Tax-loss harvesting strategies can be implemented early in your career.
- You don’t need a major exit to benefit. Tax-loss harvesting strategies can still be beneficial in other ways outside of selling your practice or business.
Why This Matters for Healthcare Business Owners
At the end of the day, tax strategy isn’t something to consider after decisions are made. This episode of The Advisor’s Table emphasizes how the difference between reacting to taxes and planning for them early can meaningfully change your long-term outcome.
Listen to the Full Episode Here:
Additional Resources:
Tune in to previous episodes of The Advisor’s Table HERE.