How well is your pharmacy’s accountant performing?
Accounting can seem like a black box: data goes in, numbers come out and the middle is a mystery. In the latest video blog from Ollin Sykes, you’ll learn that there are simple ways to know that your accountant is doing the …
Classic Video: Managing DIR Fees in Independent Pharmacies
This is a classic video by Ollin Sykes. View our most recent video on how to manage DIR fees. “Direct and indirect remuneration” fees are extremely complex. In this video, Ollin Sykes talks about how many independent pharmacy owners don’t know all …
Sykes Client Testimonial: Nicolette Mathey
Nicolette Mathey of Palm Harbor Pharmacy and Atrium24 began working with Sykes & Company, P.A. four years ago beginning with the purchase of her pharmacy. Today the firm manages all the bookkeeping, accounting advisory and tax planning for Nicolette’s independent pharmacy and …
Let’s Chat Pt.2 – RBC Cardinal Health, ThoughtSpot 2023, DIR Fees, and ERTC
In this episode of the Bottom Line Pharmacy Podcast, our hosts Scotty, Kendell, and Bonnie take you on a journey through the final leg of their tradeshow travels. Join them as they recount their experiences at Cardinal RBC in Boston, #ThoughSpot Amerisource …
The Impact of Pharmacy Inventory Management on Gross Margins | Sykes & Company, P.A.
Your pharmacy inventory is critical to your gross margins. Learn how to properly manage your inventory to achieve a good industry average gross margin of 22-23%. In this video, Ollin Sykes of Sykes & Company, P.A. discusses inventory management and its affect …
Three Things Your Inventory is Telling You About Profits
Inventory issues in an independent retail pharmacy is crucial to what the income statement and profit and loss statement are going to show, as well as to cash flow. In this video, Ollin Sykes of Sykes & Company, P.A. explains why a …
Year-End Update: DIR Fees, PTE Tax, and Christmas!
Merry Christmas from Sykes & Company, P.A.! With the New Year almost here, we want to say thank you for your service and all that you do for your community. Our Christmas gift to you is a bonus year-end update episode! On …
Classic Video: Key Tax Reform Issues That Impact Pharmacies
Below are a few of the key changes that potentially impact you and your pharmacy following the Tax Cuts and Jobs Act of 2017. A flat tax rate of 21% for C Corporations could be a positive change for the C Corporation …
Pass-through Deduction for Qualified Income from the Pharmacy
The last time major tax reform was signed into law I was a one-year old baby in 1986. But sure enough The Tax Cuts and Jobs Act is finally here after all these years and it’s quite a change. One of the …