Episode #62

20/20 Money Episode # 62 – How to Distribute Cash Flow Out of Your Practice

January 20, 2020

As the owner of an optometry practice, one of the benefits is being able to participate in not only the normal “earnings” that any other OD would make, but also the rewards of owning the practice in the form of profits. In this episode, we’ll talk through the different ways in which ODs can pay themselves out of their practice, which starts by understanding how your practice files its taxes. From there, we’ll discuss the type, timing, and frequency of how you can pay yourself out of your practice to satisfy both the practice’s and your own financial goals.

Resources:

1099 Hell

Vision Expo: It’s What You Keep That Matters

Vision Expo: Thinking Outside the Box

Episode Transcript

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