Money Coach, Tax Strategist, and Accountant for Dentists
Reducing the tax burden
I am Jay Malik, and I specialize in money matters for dentists. I focus on helping the doctors keep more of the money they make by legally reducing their tax burden. I develop and implement proactive individualized tax and financial strategies, to increase the net wealth of dentists holistically without compromising the quality of life.
My doctor clients have legally saved up to 67% in tax the first year they worked with me. These tax savings are achieved by employing advanced tax planning processes and implementing creative techniques that take advantage of the latest court decisions and IRS rulings.
I analyze the previously filed tax returns to diagnose missed tax savings opportunities and prepare an estimate of the tax overpaid in the past. I then create a detailed and individualized tax strategy, prescribing specific, actionable steps to capture tax-saving opportunities. These tax strategies are perfectly legal, available in the tax code, approved by courts, and are merely under-used by those with less expertise. I explain these tax plans in plain language to dentists, who then decide which individual pieces of the programs they implement and in which order. My individualized recommendations have proven effective for countless doctors, who indicate outright astonishment at the results.
I invented The RICH Dentist System℠, an integrated set of protocols to help dentists achieve a fulfilled life without money anxiety. My practice as a Money Coach, Accountant, and Tax Strategist serves doctors from throughout the US. I help clients implement my system to achieve a stress-free life that is prosperity driven and ultimately leads to financial freedom.
I teach The RICH Dentist System℠ at conferences and seminars organized by different associations, societies, and study groups.
Solutions for Difficult Financial Situations
I have successfully coached many doctors out of difficult financial situations, including high debt, consequences of bad investments, divorces, and dissolution of partnerships. I have dealt with most of the money related challenges the dentists face on a day to day basis. I have developed systems and tools to deal with such challenges in practical ways. Myself living in the culture of healing professions, I understand the unique perspective of dentists, their working conditions, and the limitations they face in dealing with money.
A Full-Service Accounting Firm, a One-Stop-Shop
Being a practicing accountant and managing a full-service accounting firm, I, along with my team of associates, work with dentists to implement their tax strategies on an ongoing basis. As the tax laws change from year to year, so do the tax plans. My firm handles all tax filings and compliance requirements and takes care of bookkeeping and payroll processing.
As a specialist, I keep abreast of the ever-changing legal and regulatory tax requirements affecting dentists and their practices and use my knowledge to make a massive difference in their financial lives. I live and breathe in the world of legal tax reduction, and tax preparation emphasizing paying the least legally required tax. I know more about the legal hidden tax deductions and tax loopholes for dentists than anyone else in the US.
I have observed first-hand the evolution of this profession over the years and understand how changes in the practice of dentistry have affected doctors.
My clients end up saving way more money in taxes than they pay in my fee.
Reducing Debt and Increasing Retirement Savings
I live a debt-free lifestyle and coach my dentists on similarly working towards living with zero debt in their personal lives. Almost all of my clients are in various stages of eliminating personal debt from their lives forever. And all are making progress in that direction. We find money through tax savings, effective budgeting, and eliminating unnecessary expenses with minimum effect on lifestyles and use this money to go towards lowering the debt.
Coupled with debt reduction is the goal of accumulating savings for a blessed retirement. All my clients are working towards putting away some of their hard-earned money towards their retirement goals so they control their destiny. By designing efficient retirement plans and finding money to fund them, I help doctors work toward real golden years instead of just worrying about that time.
Innovating Money Solutions
An out of the box thinker, often critical of the accounting profession, which lacks the creativity to serve the dentists. I once told CNNMoney, “Whenever Congress passes a new law, they should call it an Accountant Employment Act. It increases work for accountants.”
I have decades of practice experience and represent taxpayers before the IRS to ensure that they are treated fairly and pay their full legal obligation – but not one cent more.