Optometry coronavirus Financial and Practice (1)

We have received hundreds of messages asking us what to do regarding investments, student loans and practice ownership amidst current events.


We decided to create The Optometrist Resource to the COVID-19 Crisis  to give you resources on every financial topic and concern that the coronavirus has created. 


Happy "social distancing," and remember to keep a positive attitude.  We will get through this!


Dat Bui, OD and Aaron Neufeld, OD
  Co-Founders of ODs on Finance

Practice Management Articles

CARES ACT Provider Relief Fund (HHS) Update - All Hail the Mighty Second Payment (1)

CARES ACT Provider Relief Fund (HHS) Update – All Hail the Mighty Second Payment

In January, many eye doctors were excited, hey 2020 was supposed to be the Year of the Optometrist, right?  Well, everything came crashing down when mid-March hit, thanks to a certain, highly contagious respiratory illness.  While there has certainly been a lot of negative repercussions with the ongoing COVID-19 outbreak and public health crisis, there…

All You Need to Know about the PPP Flex Act

All You Need to Know about the PPP Flex Act

Since the COVID-19 pandemic hit the United States, Congress has passed a number of bipartisan bills aimed at helping the economy in a number of ways. One of the most recent is the Paycheck Protection Program Flexibility Act (PPPFA), which was signed by President Trump on June 5th. This article will answer all your questions…

PPP Flex Act & Forgiveness_ Strategies and Highlight for Optometrists

PPP Flex Act & Forgiveness: Strategies and Highlight for Optometrists (Guest Post)

[Editor’s Note]: This is a guest post written written by Adam Cmejla, CFP®, one of our sponsorship partners.  Aaron and Dat are extremely strict about guest requirements in that they must be educational and informative to our readers. Every guest post is vetted, read and upheld to the highest standards of ODsonFinance. Your trust is the most…

8 Small Business Grants You May Not Know About

Small Business Grants You May Not Know About

In the past few weeks, we have become all too familiar with the infamous Economic Injury Disaster Loan (EIDL) program and Payroll Protection Program (PPP) loans. However, there are other grants available for qualifying small business owners affected by COVID-19. As you know, the earlier you apply, the higher the chance that you may successfully…

Is the 2020 Real Estate Market Like 2008_

Is the 2020 Real Estate Market Like 2008?

Editor’s Note: This is a guest post written by one of our sponsorship partners. Josh Mettle NMLS #219996 is an industry leading author and ranked in the top 1% of mortgage originators in 2018 by Mortgage Executive Magazine. You can get more great real estate and mortgage advice here or by visiting his book’s website. Josh is also a…

How to Certify your Weekly UI Claim

How to Certify your Weekly Unemployment (UI) Claim: Step by Step Guide

Disclaimer: This form was filled out for my personal circumstances, your situation may be identical or slightly different. Please use this merely as a guide. This reflects California’s EDD Certification claim – your state’s EDD may differ. Check this out first: Click Here to Read Part 1: How to Apply for Unemployment (UI) for CA…

Student Loan Articles

Student Loan May Updates_ Fedloan Credit Score Mistake, New Borrower Lower Rates, Private Refi Lower Rates & HEROES Act

Student Loan May Updates: Fedloan Credit Score Mistake, New Borrower Lower Rates, Private Refi Lower Rates & HEROES Act

As we are approaching the 2-Month mark of the COVID-19 shelter in place, there have been a lot of changes in the world of student loans. Here are the latest updates: (1) Mistake on automatic forbearance of FedLoan accounts can negatively affect your Credit Report Upon passage of the CARES Act, there were 4 main…

CARES ACT_ Student Loan Repayment Benefit up to $5,250 annually +Lower Re-Fi Student Rate

CARES ACT: Student Loan Repayment Benefit up to $5,250 annually +Lower Re-Fi Student Rates

[Disclaimer] This article was written to the best of our knowledge with the latest news released from the Federal government. There are many moving parts to both of these programs, and as the days and weeks pass, there may be more clarification to some parts that are vague or confusing. Please be mindful, that I…

How to Certify your Weekly UI Claim

How to Certify your Weekly Unemployment (UI) Claim: Step by Step Guide

Disclaimer: This form was filled out for my personal circumstances, your situation may be identical or slightly different. Please use this merely as a guide. This reflects California’s EDD Certification claim – your state’s EDD may differ. Check this out first: Click Here to Read Part 1: How to Apply for Unemployment (UI) for CA…

Federal Rate 0

The Federal Reserve Just Slashed Interest Rates to 0%, What Does This Mean for Me?

March 2020 is shaping to be one of the craziest months our country has experienced in quite a while.  There is no doubt that these next few weeks will find their places in US History books that our children and grandchildren will study in the future. With widespread quarantine efforts by the government and CDC,…

Student Loan 0%

Trump Declared a 0% Student Loan Interest Waiver and Allows Borrowers to Suspend payment for up to Six Months, What should you Do?

Editor’s Note:Update [3/26/2020] We will try our best to update this article with the latest information/news from the federal government during these changing climate  With the Coronavirus crisis fully engaging our nation, every facet of our economic system is being affected.  President Trump declared Friday March 13 that he’s waived “interest on all student loans…

Navigating Market Mantras During Volatility and Uncertainty

Navigating Market Mantras During Volatility and Uncertainty

The perfect storm of the COVID-19 outbreak and the upcoming election has led to an extremely volatile market.  March 16, 2020 marked the second largest single day loss by the Dow Jones Industrial Average, in the history of the US. With the market down and heavily volatile, a few mantras regarding how to invest with…

Webinars on COVID-19 + CARES Act

Adam Cemejla CFP Webinar


In this episode/Live event, Adam Cmejla, CFP, answers questions regarding the CARES Act. Insight is given on the Paycheck Protection Program (PPP), Economic Injury Disaster Loan (EIDL), SBA Debt Relief and unemployment

 

Emergency Economic Injury Grants (EEIG) How to Step by Step Application for $10,000 Grant


In this video guide, Julie Phan OD walk us though the steps on to fill out the EEIG Application for your practice

Helpful Tools

Paycheck Protection Program (PPP) Loan Forgiveness

Paycheck Protection Program (PPP)  provide 100% forgivable loans (capped at 2.5x average monthly payroll) as long as the employer meets certain eligibility requirements and uses the loan during a covered 8 week period.


Check out Jose Caro CPA "Paycheck Protection Program Loan Forgiveness" Calculators

Resources from Around the Community

AOA COVID 19 webinar


What ODs need to know about new sick leave, FMLA requirements and financial support options for practices


Click here to Watch the Webinar


Presentation (PDF)

AOA Webinar 2020 COVID

PECAA COVID-19 Optometry Resources


Operational and HR resources for practice owners, in addition to latest update for CAREs 


Click here to Check it out 

 

California Optometric Association Resource Center


Latest Information and Resourced for CA optometrists


Click here to Check it out