Moving Expenses Tax Deduction For Graduating Medical Students / New Residents

Moving Expenses Tax Deduction For Graduating Medical Students / New Residents

As they graduate from medical school in the coming months, medical students from around the country will be moving to new locations. Moving can be expensive, especially if you have to move out-of-state or even across the country. Thankfully, some medical students will be able to get a tax deduction for their moving expenses. Before the move, it would helpful to know if you would qualify for a moving expenses tax deduction. This way, you can keep detailed records of…

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Forum Mailbag: Leverage, Long Wave Investing, Market Timing, And More!

Forum Mailbag: Leverage, Long Wave Investing, Market Timing, And More!

There is so much great information on personal finance forums. I regularly participate on several message boards, including Bogleheads, White Coat Investor, and Rockstar Finance. This is a roundup of my favorite discussions happening around the internet. 1. White Coat Investor: Leverage/Options to Turbocharge Returns Question: Potatoducks believes he is very risk tolerant and can handle large swings in his portfolio. Therefore, he would like to know whether there is any way he can use leverage or options to increase his…

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PCP vs. Specialists: The Impact Of Short-Term vs. Long-Term Trading

PCP vs. Specialists: The Impact Of Short-Term vs. Long-Term Trading

For better or for worse, there is a wide range in salaries between primary care physicians compared to surgeons and other specialists. Some of this difference is due to the increased length of training for some specialties. Neurosurgery has a residency of 7 years, and OB/GYN sub-specialists also spend 7 years in training. Many specialties, including radiology and orthopedic surgery, require 6 years of training after a semi-mandatory fellowship. This is compared to the three years of training required to…

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Wall Street Profiles: Bill Miller, Legg Mason Value Trust

Wall Street Profiles: Bill Miller, Legg Mason Value Trust

In this second installment of my recurring series on famous Wall Street investors, I profile Bill Miller, the former manager of the Legg Mason Value Trust mutual fund. His rise and subsequent fall show just how difficult it is to consistently beat the market, even for the best investors. Biography and Career Early Years Bill Miller was born in North Carolina in 1950, and graduated from Washington and Lee University in 1972. He began his investment career at Legg Mason…

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Forum Mailbag: Fellowships, Disability Insurance, Addicted To Saving, And More!

Forum Mailbag: Fellowships, Disability Insurance, Addicted To Saving, And More!

There is so much great information on personal finance forums. I regularly participate on several message boards, including Bogleheads, White Coat Investor, Mr. Money Mustache, and Rockstar Finance. This is a roundup of my favorite discussions happening around the internet. 1. White Coat Investor: To Fellowship or Not To Fellowship (Pediatrics Resident) Question: Lilsnappa’s wife is a second-year pediatrics resident, who is being encouraged by her residency program to do either a year as a chief resident or a two-year pediatric hospitalist…

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Match Day: Beginning the Transition from Medical School to Residency

Match Day: Beginning the Transition from Medical School to Residency

March 17, 2017 is Match Day for tens of thousands of medical students in the United States. Physicians know Match Day well as the day when graduating medical students find out where they will be headed for residency. The Residency Match Process For the non-physician readers of the blog, here’s how the residency application process works, which culminates on Match Day. In September, fourth-year medical students apply to residency positions at hospitals around the country. Residency applications (not including travel…

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How Wall Street Is Like A Game of High-Stakes Poker

How Wall Street Is Like A Game of High-Stakes Poker

I love a good game of poker. I fondly remember the evening poker games I played in college. I even went to the local casino several times during college, making a few dollars at the low-stakes limit hold’em tables. I would consider myself an intermediate-level poker player, having read a few books about the game. I’m good enough to beat beginners, but you certainly won’t be seeing me on ESPN at the World Series Of Poker. My enjoyment of poker…

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Forum Mailbag: Warren Buffett, Bond Funds, Basic Fidelity Portfolios, And More!

Forum Mailbag: Warren Buffett, Bond Funds, Basic Fidelity Portfolios, And More!

There is so much great information on personal finance forums. I regularly participate on several message boards, including Bogleheads, White Coat Investor, Mr. Money Mustache, Rockstar Finance, and Reddit. This is a roundup of my favorite discussions happening around the internet. 1. Rockstar Finance: Warren Buffett Is (Not) Wrong On Passive Investing Question: MrROB posts a CNBC article where the head of leading active management mutual fund provider American Funds argues for active management over passive management (advocated by Warren Buffett)….

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The Warren Buffett Bet: S&P 500 versus Hedge Funds

The Warren Buffett Bet: S&P 500 versus Hedge Funds

In 2007, Warren Buffett made a $1,000,000 bet with the hedge fund manager Protege Partners that the S&P 500 would perform better than a hand-picked selection of hedge funds. This bet became emblematic of the battle between passive and active management. It is now 2017, and the bet is almost over. Over the past 10 years, we have seen all types of markets, from the bear market of 2008-2009 to the long bull market over the past 7 years. Let’s…

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Saver’s Credit for Medical Residents

Saver’s Credit for Medical Residents

Medical residents are always looking for ways to save taxes. The Saver’s Credit is a way to save some money on taxes while getting a jumpstart on your retirement savings. The Saver’s Credit (officially called the Retirement Savings Contributions Credit) was introduced as part of the Economic Growth and Tax Relief Reconciliation Act of 2001, at the beginning of the George W. Bush administration. It was part of a larger tax cut package, and it encourages low-income and middle-class individuals…

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