Tax Planning Targets to Aim For Mid-Year

Questions? Thoughts? Send a Text to The Optometry Money Podcast!

Evon dives into mid-year tax planning targets optometrists and practice owners should keep an eye on as we work through the rest of the year. 

He talks through specific points of planning he thinks about as he works with clients and their tax professionals, including:

• Trajectory and sources of income
• Are we on track for tax payments and withholdings?
• Adjusted gross income (AGI) and phaseouts for deductions and credits
• Opportunities around itemized deductions, especially donations to charity
•  Taxable income and tax brackets
• Qualified Business Income deduction and potential phase outs
• And more! 

Hopefully this helps you have productive conversations with your own tax professional, financial advisor, and other professionals in your corner! 

Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.

Check out www.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 Taxes Work
• The Optometry Money Podcast Ep. 49: An Optometrist’s Guide to Business Entities
• The Optometry Money Podcast Ep 51: An Optometrist’s Guide to the Qualified Business Income Deduction
• IRS Tax Withholding Estimator
• The Optometry Money Podcast Ep 53: An Optometrist’s Guide to Estimated Tax Payments
  
  
  

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.