Money Coach, Tax Strategist and Accountant for Dentists & Chiropractors
My name is Jay Malik. I am an Author and a Speaker specializing in money matters for doctors. I am the inventor of The R.I.C.H. Doctor System℠, an integrated set of protocols to help doctors achieve a fulfilled life without anxiety about money. My practice as a Money Coach, Accountant, Tax Strategist, and Wealth Advisor for dentists and chiropractors, serves doctors from throughout the US and has helped clients implement The R.I.C.H. Doctor System℠ to achieve a stress-free life which is prosperity driven and ultimately leads to financial freedom.
I teach The R.I.C.H. Doctor System℠ at conferences and seminars organized by different associations, societies and study groups of dentists and chiropractors from all over the US.
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. Specializing in working with health professionals, I have dealt with most of the money related challenges the doctors face on a day to day basis. I have developed systems and protocols to deal with such challenges in effective ways. Myself living in the culture of healing professions I am able to understand the unique perspective of doctors, their working conditions, and the restrictions they face in dealing with their money.
Reducing the tax burden
My system is focused on helping doctors keep more of the money they make, by reducing their tax burden. I develop and implements proactive individualized tax and financial plans to increase the net wealth of my clients in a holistic manner without compromising the quality of life. Some of them have shared their experiences in the testimonials section of this website.
My doctor clients have legally saved up to 67% in tax the first year that they worked with me. This is achieved by employing an advanced tax planning processes and implementing creative techniques that take advantage of the latest court decisions and IRS rulings.
I analyze the doctors’ previously filed tax returns to diagnose missed tax savings opportunities and prepare an estimate of the tax they have overpaid in the past. I then proceed to 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 simply under-used by those with less expertise. I explain these tax plans in plain language who then decide which individual pieces of their plan they implement and in which order. My individualized recommendations have proven effective for countless doctors, who indicate outright astonishment at the results.
A Full Service Accounting Firm, a One Stop Shop
Being a practicing accountant and managing a full-service accounting firm, Doctors Finance LLC, I along with my team of assistants work with dentists and chiropractors 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 well.
As a specialist, I keep abreast of the ever-changing legal and regulatory tax requirements effecting doctors and their practices and use my knowledge to make huge difference in the financial lives of doctors. I live and breathe in the world of legal tax reduction and tax preparation with emphasis on paying the least legally required tax. I know more about the hidden tax deductions and tax loopholes for doctors than anyone else in the US.
Because I have been actively working with doctors for years, I have observed first-hand the evolution of the this profession over the years and understand how changes in the healthcare field have affected doctors. I am committed to making a difference in the quality of life of all medical professionals by increasing their bottom line.
All my doctor clients end up saving more money in taxes legally by the use of my proactive individualized tax planning techniques than they pay in my fee.
Reducing Debt and Increasing Retirement Savings
I personally live a debt-free lifestyle and coach my dentists and chiropractors 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 elimination of unnecessary expenses with minimum effect on lifestyles and use this money to 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 can control their own 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
I am an out of the box thinker, and often critical of the accounting profession which lacks creativity to serve its chiropractor, dentist and MD clients. I understand that many accountants use tax law to make a comfortable living for themselves and not to save tax dollars for their doctor clients. I was quoted in CNNMoney as saying, “Whenever Congress passes a new law, they should call it an Accountant Employment Act. It increases work for accountants.”
I have decades of experience working with small practices and businesses. I represent taxpayers before the IRS to ensure that they are treated fairly and pay their full legal obligation – but not one cent more.