Do Dentists Pay their own Benefits (401K, Healthcare, etc.)?

Dec 9, 2010
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Hi, I was wondering if dentists would pay for their own 401K, social security, healthcare, etc.?
It would seem so, since dentists are sole proprietors and must pay for these expenses.

So, as a dentist, even if you are taking home, let's say 150K a year, you still gotta pay for all this stuff. Correct?
 

newyorkblork

10+ Year Member
Jun 3, 2008
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New York
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Dental Student
Hi, I was wondering if dentists would pay for their own 401K, social security, healthcare, etc.?
It would seem so, since dentists are sole proprietors and must pay for these expenses.

So, as a dentist, even if you are taking home, let's say 150K a year, you still gotta pay for all this stuff. Correct?
Yup, unless you've factored it in as business expense already (don't double dip yourself). And keep in mind in order to take home 150k a year, you will have to gross enough in your practice to pay for your employees' Healthcare and any benefits you choose to give them as well. And before you calculate your REAL take-home pay, you need to factor in the ~35% taxes (federal, then staate) that you will pay. So to take home 150 your gross should be... 450k? Ish? Maybe I screwed something up there XD

This is good realistic thinking though. Factor in your car, house, business expenses, and moving expenses. Then factor in income taxes and student debt, and you start to realize why people say that the fabled "120k starting salary" fresh out of school is not the wonderland of fast cars, hard drinks, and hot women that non-dentists make it out to be.