Tax Planning for Equipment Investment Using Section 179 Depreciation
A repeat guest on the RxSafe Pharmacy Podcast Network program, Scotty Sykes, CPA, CFP® shared his knowledge about the Section 179 tax deduction and bonus depreciation. Specifically, pharmacies can accelerate depreciation on major capital equipment purchases for tax savings.
During the discussion, Sykes & Company, P.A. pharmacy client, Aimee Stuermer, shared how our team helped her and her husband choose the right time to purchase RxSafe adherence pill packaging technology for their pharmacy. Using the Section 179 deduction, the purchase significantly reduced their tax impact, but it also enhanced their services for patients. Watch the recording here.
You may also be interested in our video about common tax mistakes that independent pharmacies make when they don’t have the guidance of a pharmacy CPA.