6 Common Tax Mistakes That Optometrists Make

Optometrists are not trained in maximizing their tax benefits. Consequently, doctors who prepare their taxes themselves may miss many deductions they are entitled to take. I don’t know about you, but I want to take advantage of all the tax benefits I am entitled to. Following are six mistakes I see optometrists make that are costing them a lot of money in overpaid tax bills.

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Action Plan: What To Do with My Optometry Student Loans Before 2023?

Our inbox has been getting slammed with ODs asking for advice on what to do with their federal student loans as we get closer to the 0% forbearance expiration date of 12/31/22. Politics aside, based on the most recent federal news which removes a lot of uncertainty that we had last month, we are going to break it down with some actionable plans that optometrist can take:

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The Optometrist’s Guide to Short Term Investing

With the recent volatile market and pending economic recession, many investors are looking to hold their cash in a relatively safe place, especially as our economy faces surging inflation. In this article, we will talk about short term investments and where we can place these funds, aside from just storing cash. What is a short-term investment?

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What Should I Do First? A Complete Guideline Step-By-Step

Personal finance is called personal for a reason; it is just as much a science as it is an art (similar to prescribing glasses). But seriously, this is probably one of the most difficult decisions that a lot of doctor investors will face and has starved me of sleep a lot – simply deciding which…

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2022-2023 IRS limitations for Optometrists

With inflation rising at all time highs, it definitely seem that the IRS is adjusting quite drastically for most of these accounts for 2023! While all of these limits might seem higher, remember that it is mainly keeping up with inflation, which the consumer index is estimated at 8%. in 2022. Please use these important limit to adjust your financial planning for 2023 especially for any retirement plans!

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Health Insurance Basic 101 That Every Optometrist Should Know

Whether you are a New O.D or Seasoned O.D ….healthcare is changing every year. Working in the medical field, I thought I understood how health insurance worked, until I ended up in the emergency room for two hours earlier this year. We will teach how to understand 6 key terms and how they apply to your health insurance (Premium, Deductible, Co-insurance/Co-pays, Maximum out of pocket, Benefit caps & understand network options (HMO, EPO, POS, PPO).

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3 Take-Aways That Optometrists Should Know About Biden’s Student Loan Debt Relief

On Wednesday, Aug 24, 2022, President Biden, along with the US Department of Education announced a three-part plan to help student borrowers with federal loans transition back to regular payments. In addition, we do want to let our members know that it took us a little while to gather our thoughts after the dust settled to address our community.. So let’s begin with the facts first and any questions that optometrists might have. PART 1: Final extension of the student loan repayment + 0% Interest pause forbearance until 12/31/2022

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$182K in 2.75 years | Balancing Residency, Future Goals and Aggressive Loan Payoff with Dr. Andreas Zacharopoulos O.D

When we think about paying off student loans, it is hard to couple the ideas of finishing a residency and also knocking out student loan debt quickly. Simply put, a residency provides great experience but comes at a cost – a year of well-below average wages. Despite this hurdle, our Student Loan Success Story and active ODs on Finance member Dr. Andreas Zacharopoulos was able to knock out his debt and start setting himself up for financial success. In this article, Andreas gives us a detailed account of how he paid off his student loans and some helpful strategies for overcoming some common struggles in the quest for financial freedom.

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The Optometrist’s Guide To Student Loan Refinancing

Optometrists often accumulate multiple loans from federal and private lenders to fund their doctor education, which results in an average debt load of $220,000. The majority of these loans are federal loans which have an average interest rate of 5.5-6.8%.Then the majority of doctors will end up refinancing their student loans to save thousands of dollars in interest. Here is your comprehensive guide to the student loan refinancing process and understanding how underwriting works.

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