Episode #47

20/20 Money Episode # 47 – Three Taxes to be Aware of When You Sell Your Practice

September 30, 2019

On this episode of 20/20 Money, I keep the theme going of “Selling in September” and talk about three of the biggest taxes to be aware of when you sell your practice and how those taxes will impact the net proceeds that you will walk away from after the sale of your practice. I also discuss the ongoing investment-related taxes that you need to be aware of as well and which investment vehicles are usually more tax efficient for a non-retirement brokerage account, which is typically the type of account that an OD will use for the net proceeds from the sale of their practice. In addition, I also provide a link to a more detailed discussion on ETFs (Exchange Traded Funds) for those that want to get a bit deeper on ETFs.

Investor Field Guide

Capital Gains Tax Rates

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!

Plan With Purpose – Subscribe Now!
Episode Transcript

Enjoy our content? Subscribe for regular updates!

Related Podcasts

  • Buy or Sell a Practice, Practice Management
The benefits of shifting your mindset from practice owner to CEO (and the 3 numbers to measure daily) with Dr. Brianna Rhue, OD

So much of business ownership is about your mindset. So what happens when you take the cognizant approach to shift…

Read Now
  • Buy or Sell a Practice
20/20 Money Episode #362: Finding the right buyer: a PE sale built on trust, not just numbers, with Dr. Adam Bryan

Dr. Adam Bryan shares his journey of transitioning his optometry practice through a private equity sale. He discusses the evolving…

Read Now
  • Buy or Sell a Practice
20/20 Money Episode #360: The legal side of selling to PE: setting expectations the right way with Dr. David Cohen

Let’s discuss the legal intricacies of exiting a practice, particularly in the context of private equity transactions. On this episode,…

Read Now
  • Buy or Sell a Practice
20/20 Money Episode #359: Selling with integrity: Dr. John Abbondanza’s journey of ownership up to and through a sale to private equity

Selling to PE can be conflicting for some owners. On this episode, Dr. John Abbondanza discusses the decision-making process, the…

Read Now
  • Buy or Sell a Practice
20/20 Money Episode #357 – Is an 8x multiple on a $1M EBIDTA a good deal? A transition convo with Nathan Hayes

Welcome to this episode of 20/20 Money! My guest on today’s show is Nathan Hayes. In this episode, we discuss…

Read Now
  • Buy or Sell a Practice, Practice Management
20/20 Money Episode #356 – How OD practice owners should think about long term care insurance with Bryan Langdon, CLU

Long term care (LTC) is a complicated, misunderstood, and emotional topic for any family to discuss. Even if you’re a…

Read Now