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 …
CBD for Increased Patient Outcomes and Pharmacy Profits
Cannabis, CBD, THC, Hemp – these terms are all becoming commonplace in the healthcare industry, but what do they mean for independent pharmacy? It’s simple – Independent pharmacists are primed to OWN the CBD market! This is an opportunity to tap into …
340B: How to Thrive in an Unfamiliar Space
340B is a unique area that can help you diversify revenues, increase your bottom line and enhance cash flow. However, not all 340B contracts are the same and in some instances you may even lose money. In this webinar Sykes & Company, …
Care Plans: From ‘Nuisance’ to Narrative
Care Plans tell the story of a patient’s complete history within your pharmacy and beyond. More so, they paint a picture of how you as a pharmacist have impacted that patient. However, Care Plans only prove a pharmacist’s value to the healthcare …
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 …
Client Testimonial: TW Taylor
The Williamsburg Drug Company, Williamsburg, VA When TW Taylor began working with Sykes & Company, P.A. in early 2017, it was to purchase his two pharmacies that make up The Williamsburg Drug Company. After the purchase, TW quickly entrusted the firm with …
Federal Tax Filing and Payment Extensions to July 15, 2020
With many questions surrounding the extended federal tax filing and payment extensions to July 15, 2020, especially with many state deadlines differing, this video offers a few insights on what pharmacists should know. Ollin Sykes, CPA.CITP, CMA, provides a brief overview of …
Tax Planning 2020: What It Is and Why You Need It
Whether your pharmacy business is just getting started or if you expect to take a business loss in 2020, proactive tax planning can save you significantly this year or the next. By looking at your financial statements, your P&Ls, estimated tax payments …