Episode #156

20/20 Money Episode #156 – How the “Augusta rule” can provide tax-free income from your optometry practice

November 1, 2021

If you’re a practice owner and a homeowner, there’s a little planning strategy that can allow you to get money out of your practice tax free. It’s not going to add up to a massive amount of money, but every little bit helps. It’s called the “Augusta” rule and it allows someone that rents out their home for 14 days or less the ability to receive rental income tax-free. In this episode, I’ll share how this can be applied to optometric practice owners.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.

If you’re interested in having your question and your voice featured on the 20/20 Money podcast, you can submit it here. You can either include your name or submit anonymously. Please keep your questions short and to the point. Sometimes writing it down beforehand can help.

Start Planning Today

Don’t miss out on exclusive access to financial tips, strategies, and expert-led webinars. Subscribe to the “Planning Life, On Purpose” newsletter today and stay ahead of the planning curve!

Section 280A(g)

Episode Transcript

Enjoy our content? Subscribe for regular updates!

Related Podcasts

  • Practice Management
Don’t make these financial and business mistakes! (the talk I give at every optometry school’s private practice club)

The financial decisions you make early in your career can shape the next several decades—and most people don’t realize it…

  • Practice Management
Using EOS to Create Clarity and Traction in Your Practice with Tom Restivo

Ever wonder if, when, or how to build stronger operations within your practice? In this episode, I sit down with…

  • Practice Management
How a Limiting Mindset Can Cost Practice Owners More Than They Realize with Dr. Steve Vargo

In this episode I sit down with Dr. Steve Vargo to unpack a mindset that many practice owners quietly wrestle…

  • Practice Management
Independence vs Isolation in Private Practice with John Marvin

In this episode I sit down with John Marvin to explore a challenging but important idea for private practice owners:…

  • Practice Management
The Blueprint for Growing a Multi-Million-Dollar Optometry Practice with Dr. Kurt Steele

Most optometrists think growth comes from better marketing or more patients—but the real advantage often starts somewhere much less obvious:…

Sponsoring a health insurance plan in your practice may not be as expensive as you think

Health insurance is one of the most confusing and frustrating decisions practice owners face. In this episode I sit down…