The Sleeper Tax Item for Pharmacies in the TCJA
Under the Tax Cuts and Jobs Act, some retail pharmacies can opt to move their accounting from an accrual basis to a cash basis, which could result in adjustments as far back as the 2015 tax year. It is optional, but could …
Let’s Chat – Tradeshow Season, DIR Fees, ERTC and MORE!
Join us as we share our experiences from recent tradeshows and dive into trending pharmacy topics. From DIR fees and ERTC updates to revenue diversification and cash flow management, we discuss real-world challenges and innovative solutions that pharmacy owners need to know. …
Elevating Patient Care through 340B Partnerships ft. Eric Fromhart
In this episode of The Bottom Line Pharmacy Podcast, hosts Scotty, Bonnie, and Kendell dive deep into the world of 340B with special guest Eric Fromhart from Aventi Health. Get the facts about 340B, covered entities, and independent pharmacies in this informative …
Classic Video: Outsourced Bookkeeping vs. Outsourced Accounting for Your Pharmacy
Sykes & Company, P.A. has compared having an in-house bookkeeper for your pharmacy to having an outsourced accounting solution, but what about an outsourced bookkeeping solution? Scotty Sykes, CPA shares the difference between an outsourced bookkeeping solution and an outsourced accounting solution. …
Why the First 18 Months of a Pharmacy Start-up are Make or Break
The first 18 months is a critical time for any pharmacy start-up to become successful. In this video, Ollin Sykes of Sykes & Company, P.A. discusses what it takes to be cashflow positive, what to do in those first 18 months to …
How to Maximize your Pharmacy’s Value for a Sale
Selling a pharmacy is a process that requires planning and strategy to maximize the value. In this video, Scotty Sykes of Sykes & Company, P.A. discusses some of the things you should do now to maximize the value of your pharmacy for …
The Impact of Proactive Accounting on Independent Pharmacies
While most accountants can manage basic bookkeeping and provide you with standard monthly accounting, working with a pharmacy-specific accountant provides you with insight that can help your pharmacy perform at its best. In this video, Bonnie Bond of Sykes & Company, P.A. …
Classic Video: Selling Your Pharmacy
Ollin Sykes of Sykes & Company, P.A. is speaking as part of the afternoon-long class “Selling Your Pharmacy: Planning for Success” at the NCPA Convention, Oct. 18-20, 2014. As the NCPA explains, “Selling your pharmacy is an important event that with the …
Classic Video: NCPA Trends: A Rise in Organic Pharmacy Startups
One of the trends apparent at this summer’s NCPA Ownership Workshop is the rise of new independent pharmacy owners who begin their new pharmacy organically rather than buying an existing location. Ollin Sykes of Sykes & Company, P.A., describes the trends and …