The Optometry Money Podcast Evon Mendrin CFP®, CSLP®

Questions? Thoughts? Send a Text to The Optometry Money Podcast!With a new stock market all-time high earlier this year (2024), Evon provides perspective from history to put new record highs into proper context. While it's often thought that you should avoid investing at all-time highs do to some inevitable crash, ultimately, all-time highs are more common than you think. And the performance of stocks (on average) after new record highs would surprise you. Evon ends with the importance of kee...

Questions? Thoughts? Send a Text to The Optometry Money Podcast!Evon is joined by Dr. Tessa Sokol, owner of Sokol Advanced EyeCare in Madison, Wisconsin. Tessa shares her experience transitioning from a long-standing, successful corporate sublease to her own independent, private optometry practice. We dive into the benefits and drawbacks of the corporate sublease (from her experience), what to look for when evaluating a sublease opportunity, why she made the shift to private practice, all the...

Questions? Thoughts? Send a Text to The Optometry Money Podcast!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 a basic guide to the differences between:Sole ProprietorshipsPartnerships Limited Liability Companies (LLCs)S-Corporations...

Questions? Thoughts? Send a Text to The Optometry Money Podcast!In this replay of a popular 2023 episode, Evon revisits an important tax planning topic for optometry practice owners and independent contractors - the Qualified Business Income Deduction!He dives into what the deduction is, how it's calculated, its limitations and phase outs, how it works differently in different business types, and planning considerations to keep in mind.Have questions on anything discussed or want to have topi...

Questions? Thoughts? Send a Text to The Optometry Money Podcast!In today's episode, Evon dives into the tax considerations when selling your primary residence.Homes tends to make up a considerable portion of optometrists' net worth, and fortunately the IRS provides an exclusion for capital gains from selling your home. Evon dives into the Section 121 home sale exclusion, the two tests you need to meet to qualify, certain exceptions to keep in mind, and planning considerations when selling a h...

Questions? Thoughts? Send a Text to The Optometry Money Podcast!Evon is joined by Thomas Castelli, CPA, partner at Hall CPAs, as well as CEO of Tax Smart Investors. Many optometrists own rental real estate properties, and it's common for practice owners to own the commercial real estate the practice operates in. Thomas brings a ton of specialized knowledge in real estate taxation to the podcast, and we dive into how rental income is taxed and how optometrists can unlock "passive" rental real ...