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5 Key Tax Planning Levers Optometrists Need to Know
Episode 147
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Tax planning is more than just finding deductions—it’s about pulling the right financial levers at the right time. In this episode, Evon Mendrin, CFP®, walks through the five key areas of a tax return that optometrists and practice owners should focus on when working with their financial and tax professionals.
By understanding these levers, you can reduce surprises at tax time and unlock smarter planning opportunities for both your practice and your personal finances.
What You’ll Learn in This Episode:
- How to project your income trajectory for the year (and why clean bookkeeping is essential).
- Why reviewing your tax withholdings and estimated payments now can prevent big surprises later.
- The role of Adjusted Gross Income (AGI) in unlocking or losing out on credits and deductions.
- Planning strategies around itemized deductions (and how the new rules on SALT and charitable giving affect you).
- How to manage your Qualified Business Income (QBI) deduction as an optometry practice owner.
- Using your taxable income and brackets to strategically manage your overall tax liability.
- Practical ways to combine these levers—like retirement plans, charitable giving, and reinvesting in your practice—for maximum impact.
Resources & Links:
- Independent Strong: Understanding the Key Planning Levers in the Private Practice Owner’s Tax Return (Evon’s written guide)
- Connect with Evon: evon@optometrywealth.com
- Schedule a time to chat at www.optometrywealth.com
- Newsletter: Tax Changes in the 'One Big Beautiful Bill Act' ODs Need to Know
The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.
Published on 11 hours ago