Tax Impacts of Accrual vs. Cash Accounting Methods
Have you considered the potential tax savings for your pharmacy if you changed from the accrual accounting method to the cash accounting method? It is one of the most noteworthy tax reform changes for pharmacies under the Tax Cuts & Jobs Act …
Critical Questions about Tax Reform
The Tax Cuts & Jobs Act (TCJA) will impact most, if not all, pharmacy entities and their owners. However, as of this writing, we do not know how many areas of this law will be implemented and as a result, how they …
Pharmacy Business Meals & Entertainment
On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act. This Act completely reformed many areas of tax law including meals and entertainment rules. These rules will impact just about every pharmacy in the industry, and they …
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 …
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 …
Protect Your Pharmacy Data from Hackers
In this video, IT expert Chris Sykes talks about why hackers target small business owners, especially those in the medical industry. He shares the types of data that hackers find valuable, and why security awareness training is so important to manage your …
Sykes & Company, P.A. Names Susan Ausborn as Chief Operating Officer
Sykes & Company, P.A. is pleased to announce that Susan Ausborn has been named as Chief Operating Officer (COO) effective immediately. Ausborn joined Sykes & Company, P.A. in 2014. As the COO, Susan will act as a firm leader and change agent …
Sykes & Company, P.A. Names Bonnie Evans Bond and Scotty Sykes as Shareholders
As part of its growth strategy, Sykes & Company, P.A. has named Bonnie Evans Bond, CPA, and Scotty Sykes, CPA, as shareholders. Bonnie joined Sykes & Company, P.A. in 2005 and quickly settled into the firm’s client-focused culture. She works with independent …
Pharmacy Accounting: The Least You Need to Know
Proper pharmacy accounting comes down to making sure your books are current, have integrity, and operate efficiently. Scotty Sykes, CPA discusses pharmacy accounting with Drug Topics. Read this article if you want to know more about having a solid pharmacy accounting foundation. …
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