ERTC Due Diligence – The Bottom Line Pharmacy Podcast
Have you done your due diligence to ensure that you qualify for the ERTC? On this episode of The Bottom Line Pharmacy Podcast, your hosts Bonnie Bond, CPA, Kendell Harris, CPA and Scotty Sykes, CPA, CFP®) discuss the complexities of the ERTC …
Town Hall | The Bottom Line Pharmacy Podcast
In this live broadcast of The Bottom Line Pharmacy Podcast, we invited you to ask questions about ERTC, inventory management, DIR Fees, the Secure Act 2.0 and other pharmacy business management issues for 2023 and beyond. Hear from pharmacy CPAs and advisors …
New Inventory Rules Impacting Pharmacies: TD 9942 Update
When the Tax Cuts & Jobs Act of 2017 was signed into law, many pharmacy owners interpreted the new rules to mean taxpayers could write off inventory. Now that Treasury Decision 9942 has gone into effect, pharmacy owners that wrote off inventory need …
Employee Retention Tax Credit for Startup Pharmacies
Still a hot topic, the Employee Retention Tax Credit (ERTC) remains available retroactively for those who qualify. On this episode of The Bottom Line Pharmacy Podcast, the team (Bonnie Bond, CPA, Kendell Harris, CPA and Scotty Sykes, CPA, CFP®) discusses ERTC eligibility …
The Bottom Line Pharmacy Podcast – Tax Planning 2022
Purchasing assets is one way to reduce your tax burden. What are depreciable items that move the tax needle for pharmacies? Should you purchase equipment in 2022? What changes to depreciation tax laws are coming in 2023? On this episode of The …
2020 Employee Retention Tax Credit for Pharmacies
The Consolidated Appropriations Act (CAA), signed into law at the end of 2020, expanded the Employee Retention Tax Credit, which helps businesses struggling economically due to COVID-19 to keep employees on the payroll. Not all pharmacies will qualify, but this video by …
Pharmacy Tax Planning: 3 Tips to Avoid Surprise Tax Bills
In this video, Bonnie Bond, CPA and Kendell Harris, CPA at Sykes & Company, P.A. discuss surprise tax bills — money you owe that you did not expect. They offer three tips for pharmacy tax planning that help you avoid these surprise …
How the Signed COVID-19 Relief Bill Will Affect Pharmacies
On December 27, 2020 President Trump signed a COVID-19 stimulus bill to provide additional relief to individuals and businesses who have experienced economic hardship due to the pandemic. In this video, Scotty Sykes, CPA highlights the major components of the bill that …
2021 Employee Retention Tax Credit for Independent Pharmacies
Does your independent pharmacy qualify for the 2021 Employee Retention Tax Credit? Watch this video for more information. The tax credit is a continuation of the Consolidated Appropriations Act (CAA), which was signed into law to help businesses struggling under the COVID-19 …
Section 179 Bonus Depreciation Rules for 2021 Tax Year
If you purchased capital equipment in 2021 and put it to use before year-end, you can take advantage of accelerated depreciation to write off 100 percent of your purchase. In this video, Scotty Sykes, CPA CFP® discusses how accelerated depreciation works and …
