Orthodontics: I'm in the wrong business.

[tmleadr03]

I didn't say it was. Every business has expense, but that career beats the hell outta throwing papers. Or any career of anyone in my circle of shooters.

A lot of professions require a great deal of start up costs. Dentist is one of them. Typically what I have found is the higher the cost to get started the higher the rewards after. Whether that be in tools, education or both.

[MrPrena]

As people mentioned before, even if they do $1200/day average (which is fairly up the ladder) , that will make it total revenue of ~$440k.

Company/Corporate costs:
-Rent
-Utilities
-Insurances
-payroll (incl taxes)
-marketing
-Equipment payments
-etc etc etc etc etc

After they pay themselves, they gotta pay student loans (if they had a loan) which can be high as average household mortgage.
Oh yeah, that dentist who bought an MB x63 AMG , he needs to pay the payments on that too.


ETA: Better than how I make money.

[tmleadr03]

As people mentioned before, even if they do $1200/day average (which is fairly up the ladder) , that will make it total revenue of ~$440k.

Company/Corporate costs:
-Rent
-Utilities
-Insurances
-payroll (incl taxes)
-marketing
-Equipment payments
-etc etc etc etc etc

After they pay themselves, they gotta pay student loans (if they had a loan) which can be high as average household mortgage.
Oh yeah, that dentist who bought an MB x63 AMG , he needs to pay the payments on that too.

Easiest way to think about it is if they make (gross profit) 15 cents for every dollar coming through the door they are kicking ass.

ETA: The accountant told me last week that I made 23 cents on every dollar I took in the door this last year. Of course this is Gross Profit, and doesn't take into account all the equipment and tools I purchased to do business. With that taken into account I didn't make a cent and in fact went negative.

[MrPrena]

Easiest way to think about it is if they make (gross profit) 15 cents for every dollar coming through the door they are kicking ass.

ETA: The accountant told me last week that I made 23 cents on every dollar I took in the door this last year. Of course this is Gross Profit, and doesn't take into account all the equipment and tools I purchased to do business. With that taken into account I didn't make a cent and in fact went negative.

Who is John Galt. Corporate tax doesn't help either (for net income/common).

23% gross profit is not bad at all. Even semi-conductor companies are averaging 35%ish.
It just proves how hard it is for dentists to make $$$.

Best job right now is to just make apps ,just like WhatsApp.

[Persocon]

they lease those expensive cars to write off too right?

[tmleadr03]

they lease those expensive cars to write off too right?

Kinda. The way you do it is create a business. Buy a car through that business. Then lease that car to yourself. You are responsible for the monthly payments. The business is responsible for the taxes, which are now a business expense and can be written off. You get to write off the lease payments as a business expense as well.

[Aloha_Shooter]

As with anything, proper preparation and hard work can have its rewards. Some of my childhood friends and even friends from the service are envious of my financial position (I'm no Larry Ellison but I'm comfortable). What they usually ignore is how I worked my rear off in high school and college to get the education that put me in the position I'm in today. They also ignore how I wasn't one of the ones spending $20-40/wk on beer or girls or how I spent a cool $15+K of my own money on my master's degree or the years I spent working 80+ hours/wk or the fact my car is now 15 years old with splits in the seats. All they can see now are the cool laptop, vacations, etc.

We often envy doctors or dentists or what have you because they can define their own schedules (sort of) and usually have good financial positions later in life. We forget little things like years of education, malpractice insurance, residencies, medical waste expenses, etc. My grandfather quit practicing medicine in his 50s because he realized he made more money from his investments than his practice but before that he was used to getting paid in chickens or cuts of meat or whatever people could scrape together. He also had the "fun" of being an admitting physician right after the Japanese bombed Pearl Harbor (something he never talked about and we only discovered after his death).

Personally, I don't want to spend half my waking life in another person's mouth even for the kind of cash dentists and orthodontists make. I'm glad they don't charge more than they do because it would take a heckuva lot more to get me to do that job.

[Geology Rocks]

I figure out the same thing when I pulled into my dentist's office and there was a brand new Audi R8 Convertible parked out front.

[def90]

I didn't say it was. Every business has expense, but that career beats the hell outta throwing papers. Or any career of anyone in my circle of shooters.

Don't know about that.. last thing I want to do with my life is dig around in some nasty slobs mouth all day.



sent from a soup can and some string..

[divideman]

Wow- sounds like fun, 11-12 years of school after high school, debt of 400-500k from school, practice debt of 700k and now you complain the guy doesn't work enough for it?!?! You sound like a jealous liberal.....