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 topics or questions featured on the show? Send Evon an email at evon@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 Podcast Episode 47: An Optometrist’s Guide to How Income Taxes Work
• The Optometry Podcast Episode 49: An Optometrist’s Guide to Business Entities
• IRS Reasonable Compensation for S-Corporation Owners

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.