How to Stop Scrambling at Tax Time: An Optometrist's Guide to Quarterly Tax Payments

(Rewind) Should Optometrists Invest at All-Time Highs? What the Data Says

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. [https://www.buzzsprout.com/1970676/fan_mail/new] Episode Summary With the stock market trading near all-time highs again, it's natural to wonder — should you be worried? Is a crash inevitable? Should you hold off on investing? In this rewind of one of our most popular 2024 episodes, we dig into what history actually tells us about all-time highs in the stock market — and why optometrists should stay the course with the long-term investment plan they've already built. What You'll Learn * How common all-time highs actually are historically * Average S&P 500 returns one, three, and five years after record highs * How often significant market corrections follow all-time highs * Why declines are a normal and expected part of long-term investing * What optometrists should focus on instead of market noise Key Takeaways for Optometrists All-time highs sound alarming — but history says otherwise. Since 1950, the S&P 500 has hit roughly 1,250 all-time highs, averaging about 16 per year. Research from Dimensional Fund Advisors shows that average returns one, three, and five years after record highs are nearly identical to returns after any other given month. And data from RBC Global Asset Management found that only 9% of all-time highs were followed by a 10%+ decline within one year — with that number dropping to 0% over a five-year window. None of this means declines don't happen — they do, and they're a normal part of investing. But for long-term investors, the focus belongs on the things within your control: your savings rate, your practice, your career, and maintaining the right investment mix for your goals. The headlines will always find a reason to worry. Your job is to tune them out and stay invested. Resources for Optometrists * Podcast Ep 153: How to Invest Tax-Efficiently and Keep More of Your Returns (After-tax) [https://optometrywealth.com/podcast/the-optometry-money-podcast-ep-153-how-to-invest-tax-efficiently-and-keep-more-of-your-returns-after-tax/] * Podcast Ep 140: What Most Investors Get Wrong About Dividend Investing [https://optometrywealth.com/podcast/the-optometry-money-podcast-ep-140-what-most-investors-get-wrong-about-dividend-investing/] * DFA: Why A Stock Peak Isn't A Cliff [https://my.dimensional.com/dfsmedia/f27f1cc5b9674653938eb84ff8006d8c/77641-source/why-a-stock-peak-isnt-a-cliff-us.pdf] * RBC GAM: Investing at All-Time Highs [https://www.rbcgam.com/en/ca/learn-plan/investment-basics/investing-at-all-time-highs/detail] * Have a question for a future episode? Email: podcast@optometrywealth.com Want a more proactive approach to your planning? Let's schedule a call. You can schedule a no-commitment introductory call to discuss what's on your mind financially and learn how we help optometrists navigate those same decisions nationwide. 👉 Schedule an introductory call [https://optometrywealth.short.gy/contact] 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.

Big Student Loan Changes Are Final: What Optometrists Need to Decide Now

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. [https://www.buzzsprout.com/1970676/fan_mail/new] The Department of Education just released its final rule implementing the federal student loan changes we’ve been tracking over the past couple of years — and while most of it lines up with what we expected, two surprises stood out.  In this episode, we recap how we got here (the official end of the SAVE Plan and the sweeping changes from the One Big Beautiful Bill Act), break down the income-driven options ODs have going forward, and dig into the two surprises in the final rule that could affect your repayment strategy. If you have questions about navigating these decisions alongside the rest of your cash flow, tax, and practice planning, reach out at podcast@optometrywealth.com. What You’ll Learn •Why the SAVE Plan is officially dead and the 90-day decision window for borrowers still in SAVE forbearance •How the One Big Beautiful Bill Act splits borrowers into two groups based on the July 1st date •Why consolidating your federal loans right now could restrict your repayment options •The difference between old and new IBR — and which ODs qualify for each •How the new Repayment Assistance Plan (RAP) works, including its payment calculation and 30-year timeline •The first surprise: new restrictions on who can enter Pay As You Earn before it sunsets in 2028 •The second surprise: how RAP payments are (and aren’t) treated for forgiveness under IBR Key Takeaway July 1st is the date to circle. Whether you’re deciding how to exit SAVE forbearance, weighing a consolidation, or trying to lock in Pay As You Earn before new restrictions hit, the window to act on your best options is closing — and the right move depends heavily on your specific path toward forgiveness or payoff. Resources * Podcast Ep. 152: Listener Q&A: Practice Ownership, Backdoor Roths, and Student Loans [https://optometrywealth.short.gy/ODmoney152] * Podcast Ep. 151: How Filing Taxes Separately Impacts Student Loan Outcomes for Optometrists [https://optometrywealth.short.gy/ODmoney151] * Ep 143: How the Final One Big Beautiful Bill Act Impacts Optometrists – Taxes, Student Loans, and More! [https://optometrywealth.short.gy/ODmoney143] Want a more proactive approach to your planning? You can schedule a no-commitment introductory call to discuss what's on your mind financially and learn how we help optometrists navigate those same decisions nationwide. 👉 Schedule an introductory call [https://optometrywealth.short.gy/contact] 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.

How to Maximize Your Optometry Practice Value Before You Sell with Erich Mattei

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. [https://www.buzzsprout.com/1970676/fan_mail/new] Whether you're five to ten years from exiting your optometry practice or just starting to think about it, the decisions you make right now have a major impact on what your practice is ultimately worth.  In this episode, Evon is joined by Erich Mattei of Akrinos — a returning guest who specializes in practice transitions and valuations — to break down the key levers practice owners should be focused on long before they're ready to sell. From profitability and expense benchmarks to payor mix, capital expenditure, and add-backs, this conversation gets into the mechanics of how fair market value is actually determined and what you can do to improve it. What You'll Learn * How fair market value for an optometry practice is determined * The two primary drivers of practice value: profitability and capital expenditure * Key expense benchmarks for COGS, occupancy, non-doctor payroll, and general overhead * Why growing revenue matters — and why growing the right revenue matters even more * How payor mix and cash pay percentage affect practice value and buyer negotiation * What add-backs are and why minimizing seller discretionary spend before exit is critical * How associate doctors and full-time equivalent coverage factor into valuation * Why outdated equipment can undermine an otherwise profitable practice Key Takeaway The time to prepare your practice for sale is long before you're ready to sell. The ODs who get the most at exit are the ones who ran their businesses like a business — with clean financials, controlled expenses, growing revenue through the right channels, and a practice that a buyer can step into with confidence. Resources * Erich Mattei / Akrinos: contact@akrinos.com [contact@akrinos.com] * Akrinos 360 Due Diligence Resource — reach out to Erich directly or contact Evon at podcast@optometrywealth.com [podcast@optometrywealth.com] * Akrinos Website [https://www.akrinos.com/] * Podcast Ep 50: Guide to Due Diligence on Practice Purchases with Erich Mattei [https://optometrywealth.short.gy/ODmoney50] * Podcast Ep 80: Intro to Optometry Practice Valuations with Erich Mattei [https://optometrywealth.short.gy/ODmoney80] Want a more proactive approach to your planning? You can schedule a no-commitment introductory call to discuss what's on your mind financially and learn how we help optometrists navigate those same decisions nationwide. 👉 Schedule an introductory call [https://optometrywealth.short.gy/contact] 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.

How to Stop Scrambling at Tax Time: An Optometrist's Guide to Quarterly Tax Payments

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. [https://www.buzzsprout.com/1970676/fan_mail/new] It's tax day — and whether you're celebrating a finished return or still working through an extension, tax payments are on your mind. In this episode, we walk through a practical framework for planning your quarterly estimated tax payments so you're not scrambling, stressed, or surprised come tax time.  We cover the two ways ODs pay taxes through the year, IRS safe harbor targets to avoid underpayment penalties, and a simple system to automate the whole process so you stay ahead all year long. What You'll Learn * The two ways ODs pay federal taxes through the year — payroll withholdings vs. quarterly estimated payments * Which payment method applies based on how you practice (W2, sole prop, S Corp) * The three IRS safe harbor targets that protect you from underpayment penalties * How to calculate your quarterly payment amount step by step * How to set up a dedicated tax savings account and automate deposits * Where quarterly tax payments fit in your practice's cash flow priority order * How to adjust your payments as income changes through the year * The importance of working proactively with your professionals Key Takeaway The biggest tax payment headaches come from not having a system. Pick your safe harbor target, calculate your quarterly amount, automate deposits into a dedicated tax account, and adjust as you go. It's not glamorous — but it's how you move from reactive and stressed to in control. And keep in close contact with your financial and tax professionals to make sure you're making proactive decisions with tax payments and planning throughout the year! Resources & Links * IRS Pay Online [https://www.irs.gov/payments] * IRS Form 2210 — Underpayment of Estimated Tax [https://www.irs.gov/forms-pubs/about-form-2210] * Schedule a call with Optometry Wealth Advisors [https://www.optometrywealth.com/contact] 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.

(Rewind) An Optometrist's Guide to Business Entities

Questions? Thoughts? Send a Text to The Optometry Money Podcast! We'll answer your question on the show. [https://www.buzzsprout.com/1970676/fan_mail/new] In this replay of a popular 2023 episode, Evon revisits an important topic for optometry practice owners and independent contractors - the differences between different business entities! How do the different business entities work? How are they taxed? How are they different? In this episode, Evon provides optometrists a basic guide to the differences between: * Sole Proprietorships * Partnerships *  Limited Liability Companies (LLCs) * S-Corporations * Corporations If you own an optometry practice or are an independent contractor, hopefully this episode brings some clarity around how the different types of businesses operate.  Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at evon@optometrywealth.com [evon@optometrywealth.com]. Check out www.optometrywealth.com [https://optometrywealth.com/] to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices.  Resources mentioned on this episode: * The Optometry Money Podcast Ep. 47: An Optometrist's Guide to How Income Taxes Work [https://optometrywealth.com/podcast/the-optometry-money-podcast-ep-47-an-optometrists-guide-to-how-taxes-work/] * IRS.Gov Reasonable Compensation for S Corporation Officers [https://www.irs.gov/businesses/small-businesses-self-employed/s-corporation-compensation-and-medical-insurance-issues#Reasonable%20Compensation] * IRS.Gov How to Apply for an EIN [https://www.irs.gov/businesses/small-businesses-self-employed/how-to-apply-for-an-ein] 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.