Section 139 Allows for Some Payments to be Tax-Free and Tax Deductible
After the terrorist attacks on September 11, 2001, Congress added a little-known tax provision to the tax law. This provision exempts certain payments from taxation during a disaster or terrorist attack. President Donald Trump’s national emergency declaration triggered the disaster provisions of …
Update: Tax Deductibility of Expenses Under PPP
As we discussed in our email blast on Friday April, 14th, Congress did not specify in the CARES Act whether expenses paid with Paycheck Protection Program (PPP) loan proceeds would be deductible to the extent the PPP loan is forgiven. In other …
Coming out of COVID: 5 Objectives for Boosting Rx Business and Cash Clinical Services
Coming out of the sudden, severe lockdowns from the coronavirus disease 2019 (COVID-19), pharmacies are adjusting to a new way of serving patients and providing services. To build some positive momentum, here are 5 ways that current pharmacy owners are adapting their …
Coming out of COVID: How to boost RX Business and Cash Clinical Services
In this webinar you’ll learn how to: • Diversify your revenue streams away from PBMs, DIR and GER headaches • Help your patients feel better, and become less reliant on medications • Empower your pharmacists to practice what they went to school …
IRS Says Provider Relief Fund Payments Are Taxable
Between the CARES Act and the PPP Health Care Enhancement Act, which both passed earlier this year, $175 billion was allocated to the Provider Relief Fund. This funding was used to reimburse providers, including pharmacies, for lost revenue or expenses as a result …
PODCAST: Panelists Discuss Recent CARES Act Stimulus and Other Pharmacy Updates
On a special edition of the Good Neighbor Pharmacy Connect Podcast, Scotty Sykes, CPA, CFP® and other business advisors were invited to discuss significant updates and guidelines on new CARES Act stimulus provisions. The podcast was recorded June 30, 2020. The panelists …
How Financially Stable is Your Pharmacy?
To help your community as an independent pharmacist, you need to operate a successful business and stay open. The impact of COVID-19 has brought challenges and growth opportunities to pharmacy owners, which Scotty Sykes, CPA, CFP® discusses on the Catalyst Pharmacy Podcast, …
COVID-19 Recent EEOC Guidance
On April 23, 2020, the EEOC addressed one of the open issues that many employers have been asking: “Can I require employees to have a negative COVID-19 test in order to return to work?” The EEOC addressed this question in the affirmative …
COVID-19 CARES Act: Release of $30 Billion
On Friday, April 10, 2020, HHS announced immediate payments to Medicare providers in connection with the $100 billion Provider Relief Fund passed by Congress as part of the CARES Act signed by President Trump on March 27, 2020. These immediate payments total …
After COVID-19: Growth Opportunities for an Independent Pharmacy
Growth opportunities for independent pharmacies after COVID-19. Ollin Sykes, pharmacy CPA, describes the role of the independent pharmacy as community healthcare provider post COVID-19. Independent pharmacies have new opportunities to interact with patients about prescriptions, vaccinations and various clinical services. Learn more …
