Recommended Tax Experts
Need a trusted CPA agent to handle all your complicity of your optometry business? Dat and Aaron are excited to partner with these recommended and reliable Tax Agents! We often get asked who we recommend for Tax preparation (preparing your tax form) to tax strategizing (helping the OD in planning way to lower his or her tax bill)! So after extensive research and interviews, these firms are excellent in planning and helping your optometric business. Fees are typically per project/return or at an hourly rate.
Disclosure: Some of the links below are paid sponsors of this website. These recommended resources are heavily vetted and researched by Dat and Aaron. We are extremely selective on who we want as sponsors because your trust in us is so vital for ODsonFinance to succeed. If you have feedback or concerns, please don't hesitate to contact us.
Tax Planning & Book-keeping
Our goal has always been to be more than just a traditional accountant that does bookwork and taxes. We work with our clients in a capacity we refer to as a “strategic partner”. Because of this philosophy, there is a noticeable difference between us and the rest. We have worked with large accounting firms and individuals working from their home, and know where both fall short. We have the ability to serve all your tax needs and specialize in supporting our clients from a full-service bookkeeping standpoint as well.
Traditional accountants give you paper…we give you sound, professional advice. Traditional accountants give you the time you paid for…we give you the time you need. Traditional does your taxes…we work with you in advance to understand your situation and reduce tax. Traditional doesn’t guide any retirement planning…we have been helping clients build retirement plans for 30 years.
Our clients love our flat-fee pricing so there are no questions as to what they will be paying. Let’s do a zoom meeting today and we can discuss the needs of your practice.
In addition to tax planning, Hallows and Company provides the following for the OD:
- Tax preparation
- Financial Planning
Location Requirements: Eligible in all States
Contact: Adam Roundy CPA at email@example.com for any questions
Accounting Services for Optometry Practices
Our best guess is that you didn‘t launch your optometry practice because you love accounting work. So why take on these complex tasks that keep you in the back office and away from your patients?
We want to help you get out of the back office and back to business. BOSS® (Back Office Support System) is our convenient and affordable outsourced accounting package designed for busy optometry practices just like yours. Simply hand over your accounting work to us, and we do the rest.
Our firm understands the financial hurdles you’re confronted with on a daily basis and are ready to offer meaningful solutions and practical advice. We will take over all the accounting tasks that are straining your resources including bookkeeping, payroll, budgeting, and more. We'll also decrease your tax burden through proactive planning and tax minimization techniques designed around your particular practice. Our practice management consulting services will improve productivity, help you monitor cash flow efficiently, and increase the overall profitability of your eye care practice.
Caro & Associates strives to offer the most effective services to optometrists. These services range from accounting, taxation and business coaching services including:
- Bookkeeping and payroll solutions
- Tax planning strategies benchmarking and KPI management
- Start‐up business advice for optometrists
- Advice and establishment of your business structure
- Tax & business registrations
- Preparation of business plans, cash flow forecasts and profit projections
- Accounting software selection and training – bookkeeping, invoicing, payroll etc.
Let us help you get back to your passion – your patients and your business – and get out of the back office! Contact us to learn more and see BOSS in action. We look forward to hearing from you.
Please mention you’re coming from the ODs on Finance FB group for a free consultation.
Location Requirements: Eligible in all States
Financial Management & Consulting/ Tax Planning/ Practice Valuation
Williams Group has been helping optometry practices for over 30 years. It is that experience that allows us to know how to shape your financial statements to reflect that of an optometry clinic. Your numbers will be updated daily and allow you to compare to national benchmarks for optometrists.
By also offering tax preparation, tax planning, and full-service payroll, we aim to take the busy work off your hands so you can focus on what is profitable to you, seeing patients.
Our fees update based on how your clinic is performing, so you will pay less if you go through hard times, and we will be motivated to help you and your clinic improve. And our payroll services are often cheaper than do it yourself payroll software, which doesn’t have our benefit of integrating the smallest details into your books
In addition to our financial services, we also can help you achieve the practice you've always wanted through our highly-customizable consulting programs. We’ll help you define your goals in every area of your practice and then co-manage implementation to help you achieve your desired results.
- Bookkeeping & reporting
- Full-Service Payroll
- Corporate & Personal Tax Returns
- Tax Planning
- Sales & Use Tax filing
- Business Personal Property Tax Return
- Practice Consulting Programs
Location Requirements: Eligible in all States.
8 Financial Mistakes that New Optometrists Make
The average new optometrist graduates at an average age of 28 year old (significantly behind non-OD peers in terms of income generation), with an average student loan debt of over $220,000+, with little or no retirement investments. Often new grad optometrists find themselves practicing in oversaturated cities and most importantly without any formal financial education. This is the perfect storm that often leaves many doctors mentally overwhelmed and prone to devastating financial mistakes. In this article, we will address 8 common financial mistakes that new OD graduates make and how you can avoid them to be financially successful.
Annual Report: 2020
Well 2020 has surely been a year! Let’s be honest, we all went into the year 2020 with big expectations – but the so-called Year of the Optometrist had some nasty surprises up its sleeve. Despite the trials and tribulations that 2020 brought, it also brought important lessons, and the looming importance of financial education…
8 New Year’s Financial Resolutions
KEY POINTS: (1) Max out Your Roth IRA Early (2) Automate Your Savings (3) Make Sure You Have an Adequate 3-6 months Emergency Fund (4) Create a Budget…or a Spending Plan (5) Set an End of the Year Net Worth Goal (6) Re-evaluate Your Insurances (7) Plan for Expenses, and Fun! (8) Get Professional Help…
What is Tax Loss Harvesting and How Can It Help Me?
What is Tax Loss Harvesting? With tax loss harvesting (TLH) the concept is simple – sell your investments at a loss to reduce your tax liability. In the realm of tax loss harvesting you can “harvest” your losses and utilize them to: How Does Tax Loss Harvesting Work? What is the Wash-Sale Rule? In an…
2020-2021 Comparison Retirement & IRS Limits
KEY POINTS: (1) Overall, 401K/Roth IRA/SIMPLE/SEP contribution limits are the same in 2021 (2) Trad IRA: For single taxpayers covered by a workplace retirement plan, the new phase-out range is $66,000 to $76,000. For married couples filing jointly, where the spouse making the IRA contribution is covered by a workplace retirement plan, the new phase-out…
6 Lessons That Dave Ramsey Get Right, and 6 Lessons That Are Completely Wrong
We have quite a few ODs on Finance members who are big Dave Ramsey fans, and quite a few who are Dave Ramsey Haters. Here are 6 Lessons That Dave Ramsey Get Right, and 6 Lessons That Are Completely Wrong and how each OD can optimize them to be even more successful!
Thoughts on the Current Economy with Peter Schiff (FB Live Event)
With the world under distress at both a political and public health level, it is hard to make sense of economic activity. Furthermore, with heavy government involvement in the economy, long term implications are both scary and unknown. In this live event, famed economist Peter Schiff helps us understand his vision of the economic future…
8 Reasons Why Every Optometrist should Invest in Index Funds
KEY POINTS: (1) Better Performance (2) Lower Cost (3) Less Time consuming (4) Less Risky (5) More Tax-Efficient (6) Ease of use in Building your Portfolio (7) Wide Availability (8) Eliminate Behavioral aspect and No Feeling of missing out (FOMO) Due to the recent COVID shelter in place order, many investors (new and experienced) are…
CPA Tax Advice: PPP, EIDL, and Everything In Between (Live Event)
The coronavirus has wreaked havoc in nearly every part of our lives, and as a result, the government has tried to step in and offer economic assistance. The CARES Act has been vital for both employees and employers as they seek to navigate the murky financial waters that COVID has created. But here’s the big…