Recent IRS Tax Reform Guidance Released! What Every Pharmacy Needs to Know
The IRS issued guidance on 199A in August. In this recorded webinar, Ollin Sykes, CPA and Scotty Sykes, CPA of Sykes & Company, P.A. discuss how the recent tax reform and guidance may impact your pharmacy. They explain the issues they have …
The Latest Issues in Selling a Pharmacy
What are the latest issues in selling that independent pharmacy owners should be aware of? Ollin Sykes, CPA, shares why positioning your pharmacy for a sale should be done a few years in advance. This goes beyond just your monthly accounting and …
Tax Planning for Your Pharmacy
Ollin Sykes, CPA, of Sykes & Company, P.A. discusses how the Tax Cuts and Jobs Act may impact independent pharmacies. The main areas of impact are: §199A deduction capabilities, technology updates and fixed asset purchases, meals and entertainment deduction guidelines and cash …
What You Need to Know About DIR Accounting
What does an independent pharmacy owner need to know about DIR accounting? In this brief video, Ollin Sykes, CPA, of Sykes & Company, P.A. discusses DIR (Direct and Indirect Remuneration) fees and how to properly record DIR fees. He explains how to …
Classic Video: Tax Cuts and Jobs Act of 2017: Pharmacy Impact and §199A
In the Tax Cuts and Jobs Act of 2017: Pharmacy Impact and §199A webinar, Ollin Sykes and Scotty Sykes discuss the provisions that may impact your pharmacy. They also go over the Section 199A deduction for pass-thru entities. We hope you find …
Your Top Pharmacy Bookkeeping Issues
What are the top pharmacy bookkeeping and accounting issues that independent pharmacy owners should be aware of? Ollin Sykes, CPA, shares three key issues to consider, including monitoring and reconciliation of third party receivables, having a solid inventory system in place and …
Tracking Third-Party Receivables for Your Pharmacy
Should pharmacy owners track their third-party receivables? If so, how should they be doing it? In this video, Scotty Sykes explains the importance of tracking the third-party receivables for your independent pharmacies. He also discusses the importance of managing your third-party receivables …
What Pharmacy Owners Need to Know About Meals & Entertainment
If you use meals and entertainment to further your pharmacy business, there is now a fine line between what is deductible and what is not deductible. In this video, pharmacy CPA Scotty Sykes describes how the Tax Cuts and Jobs Act changed …