Key Tax Reform Issues Set to Impact Pharmacies
The Tax Cuts and Jobs Act signed into law in late 2017 is sure to have an impact on the retail community pharmacy industry. At Sykes & Company, P.A., we have been carefully tracking the issues specific to retail pharmacies, requesting guidance from the IRS on areas that need clarification and summarizing these to keep you informed and up-to-date. We have videos and articles addressing many issues that concern you:
- Section 199A
- Bonus Depreciation / Section 168 (k)
- Pass-through Deduction
- Meals and Entertainment Expenses
- Sleeper Tax Item – Accrual to Cash Basis Accounting
Stay up to date with us as we break down the tax reform and what it means for independent pharmacy owners.