I agree with all of your points. 1). the tax benefit (e.g., $75k deduction at 37%) has to justify the costs (e.g., $5k annually) so most suitable for high-income docs. 2) yes, many docs underestimate their retirement medical expenses, so having a tax-free bucket to fund the costs during their golden years is a good idea. 3) substantiation is a key. :) I pushed that med spa example a bit as a conversation starter, but your caution is absolutely well-taken. Conversation like this solidify my TAX NEURAL FOUNDRY and sharpen my thinking - thanks to you. :)
I agree with all of your points. 1). the tax benefit (e.g., $75k deduction at 37%) has to justify the costs (e.g., $5k annually) so most suitable for high-income docs. 2) yes, many docs underestimate their retirement medical expenses, so having a tax-free bucket to fund the costs during their golden years is a good idea. 3) substantiation is a key. :) I pushed that med spa example a bit as a conversation starter, but your caution is absolutely well-taken. Conversation like this solidify my TAX NEURAL FOUNDRY and sharpen my thinking - thanks to you. :)