Mountain View Group and My Professional CFO
This week we continued our bi-weekly series with Life University’s Dr. Gilles LaMarche, focusing on business leaders who exemplify integrity, in a lead-up to Life University’s LIFEtalks World Congress, May 12-13, discussing integrity for life with a number of well-known speakers on the subject. We were joined in the studio by Thom Gonyeau and Alan Conner, of Mountain View Group and My Professional CFO, respectively.
I met Alan a few weeks ago in the hall of our office building. After learning about how he helps physicians, I knew we needed to have him stop by to talk about it. In addition to providing basic accounting/payroll functions, Alan also helps physicians develop effective, legal tax strategies, including self funded insurance plans to reduce their tax burden and risk at the same time.
Alan shared the story of a family member, an ER physician in Florida. He explained the fact that his family member, as do many physicians, work as 1099 contractors for the respective practice they serve. In this relationship, the doctor receives a gross paycheck with no tax withheld.
In this situation it is vital for the provider to plan for their tax obligation and pay it in a timely fashion (at least quarterly) or they face between 5-10% penalties, which can quickly add up to significant amounts, based on the numbers they’re working with.
Alan explained several options available to physicians that work as 1099 contractors, including self funded insurance plans, pension plans, SEP IRA’s, and others, that will help them preserve their hard-earned revenue for later while protecting them from risk such as loss of medical license should that occur.
It’s clear after speaking with him that it is advisable for our colleagues in the community to partner with experts such as Alan to develop a solid plan for managing their tax obligations as well as helping to secure their financial future.
I met Thom Gonyeau ~five years ago. Equal parts right-brain and left-brain, he’s an operational guru. He works with clients to solve their business needs. Thom is an avid photographer, tennis player, runner, and writer. H had his first brush with fame at age 8, when his poem “Things That Are Beautiful” was published in Highlights magazine.
We talked about the media production work he and his team execute to help their clients, which includes the likes of GE, Coca Cola, and numerous other well-known enterprises, tell the story of their brand both internally and externally. Thom draws on his love of writing and his curiosity to get to know his clients very well and then be able to craft engaging, award-winning media productions across a variety of platforms to share it with the target audience.
Dr. Gilles LaMarche, DC, VP of Professional Relations at Life University
- Doctor of Chiropractic, Canadian Memorial Chiropractic College
- Author, The ART of Responsibility, Insight Publishing 2012
- Certified Six Advisors Coach, Six Advisors Coaching Academy
- Previous Vice President, Parker College of Chiropractic
Alan Conner, CEO, My Professional CFO
- MBA, Finance, Nova Southeastern University
- Previous Investment Banker, Orosey & Pepe Capital Markets
- Former Investment Manager, Arduus Asset Management
Thom Gonyeau, CEO, Mountain View Group
- MA, Communications, The College of Saint Rose
- Chair, Board of Trustees, Creative Education Foundation