Episode Details

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Even though we're already into 2026, tax planning for 2025 isn't over. While most tax planning happens before December 31st, there are still several impactful levers you can pull before filing your return.

In this episode, Evon breaks down four specific tax planning opportunities still available to optometrists in early 2026, including strategies for individual ODs, practice owners, and real estate investors. Whether you're looking to maximize retirement contributions, reduce your 2025 tax burden, or accelerate depreciation on investment properties, this episode gives you a clear roadmap for what's still possible.

Key Takeaways

• IRA and HSA contributions can be made until April 15th and still count toward your 2025 tax year
• The "backdoor Roth IRA" remains available regardless of income, but requires careful execution to avoid the pro-rata rule
• Practice owners can make profit-sharing contributions up until their business tax filing deadline (including extensions)
• Cost segregation studies can accelerate depreciation for real estate investors, and why January 19, 2025 is a key date
• Not every strategy makes sense for every situation - tax bracket, liquidity needs, and long-term plans all matter when deciding which levers to pull

Episode Chapters

• 00:00 - Welcome and Listener Question
• 01:00 - Tax Planning Lever #1: IRA and HSA Contributions by April 15th
• 03:00 - Watch Out for Tax Filing Quirks and the Pro-Rata Rule with "Backdoor" Roth IRA Contributions
• 07:00 - Tax Planning Lever #2: 529 Contributions If Your State Provides a Tax Benefit
• 08:00 - Tax Planning Lever #3: 401(k) Profit Sharing Contributions
• 10:00 - Do Profit Sharing Contributions Make Sense for Your Optometry Practice?
• 13:00 - Don't Forget About Cash Balance Plans for Mature Optometry Practices
• 13:00 - Tax Planning Lever #4: Cost Segregation Studies for Investment Real Estate
• 16:00 - Final Thoughts for Optometrists Before Tax Season

📅 Want a more proactive approach to your planning?

If you're a practice owner wondering which of these levers makes sense for your situation, we'd be happy to help you think it through.

You can schedule a no-commitment introductory call to discuss what's on your mind financially and learn how we help optometrists navigate these decisions nationwide.

👉 Schedule an introductory call

📑 Resources mentioned in the episode:

• Podcast Ep. 108: Navigating Commercial Real Estate Decisions with Colin Carr
• Podcast Ep. 148: Profit Sharing Demystified - How Optometry Practice Owners Can Maximize Their 401(k) with Matt Ruttenberg 
• IRS: IRA contribution and income limits

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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.