Sykes & Company, P. A.
Sykes & Company, P. A.
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Pharmacy Buyer Beware: Red Flags to Watch Out For
#localpharmacy #buyingapharmacy #pharmacypodcast #pharmacy #independentpharmacy
Before you buy a pharmacy, make sure you pay attention to any red flags that may come up during the transaction.
In this video, Alfonso Zambrano, Esq. and Partner at Brown & Fortunato shares his insights with Scotty Sykes, CPA, CFP and Bonnie Bond, CPA on what red flags to look for on the tax side and the employee side.
This is a clip from The Bottom Line Pharmacy Podcast. Watch the full episode here: th-cam.com/video/Qd9oR2Ptj8k/w-d-xo.html
🕰️Time Stamps🕰️:
00:00 - 00:11- Today's Topic: Pharmacy Purchase Red Flags
00:12 - 1:08 - Corporate Formalities, Documentation, and Licensure
1:09 - 3:03 - Tax Structure and Employees
มุมมอง: 13

วีดีโอ

M&A Mastery: The Ultimate Guide for Pharmacy Owners Featuring Alfonso Zambrano
มุมมอง 289 ชั่วโมงที่ผ่านมา
#pharmacy #independentpharmacy #buyingapharmacy #sellingapharmacy #pharmacypodcast #M&A #megersandacquisitions #communitypharmacy Think you’re ready to buy or sell a pharmacy? You’ll want to tune in to this episode. In this episode of The Bottom Line Pharmacy podcast, Scotty Sykes, CPA, CFP and Bonnie Bond, CPA welcome Alfonso Zambrano, Esq. Partner at Brown and Fortunato, to discuss: - The cur...
Pharmacy Purchases: The Critical Role of Accounting Files & Financial Models
มุมมอง 2714 วันที่ผ่านมา
#localpharmacy #buyingapharmacy #pharmacypodcast #pharmacy #independentpharmacy #pharmacyaccounting #accountingconcepts Schedule an Rx Assessment: www.sykes-cpa.com/rx-assessment-service/ Purchasing a pharmacy? Make sure you have the full backed-up accounting file and tax returns. In this video, Ollin Sykes, CPA, CITP, CMA and Scotty Sykes, CPA, CFP dive into the importance of obtaining accurat...
Pharmacy Automation Inside Out: Cost-Control and Tax Strategies Featuring Darin Gleason, ScriptPro
มุมมอง 5814 วันที่ผ่านมา
#pharmacy #independentpharmacy #buyingapharmacy #sellingapharmacy #pharmacypodcast #communitypharmacy Schedule an Rx Assessment: www.sykes-cpa.com/rx-assessment-service/ Questions about robotics and tax planning? Don’t miss this episode of The Bottom Line Pharmacy Podcast! Join Scotty Sykes, CPA, CFP and Bonnie Bond, CPA as they sit down with Darin Gleason, National Sales Director for Retail Ph...
The Pharmacy Ownership Podcast | Episode 7 | Due Diligence: What to Look for When Buying a Pharmacy
มุมมอง 4914 วันที่ผ่านมา
#localpharmacy #buyingapharmacy #pharmacypodcast #pharmacy #independentpharmacy #pharmacyaccounting #accounting Looking at buying a pharmacy? Schedule a meeting with us: www.sykes-cpa.com/pharmacy-buy-sell-advisory-services/ The most important step you can take when buying a pharmacy is performing the right due diligence, but what should you be looking for? In this episode of The Pharmacy Owner...
Master The Margin Episode 5: Tax Reform Update: 2025 Changes to the Tax Cuts and Jobs Act
มุมมอง 6114 วันที่ผ่านมา
Master The Margin Episode 5: Tax Reform Update: 2025 Changes to the Tax Cuts and Jobs Act
Pharmacy Leasing: Capital Lease Best Practices
มุมมอง 1321 วันที่ผ่านมา
Pharmacy Leasing: Capital Lease Best Practices
Cash Copay Collection: Daily Processes and Best Practices to Protect Your Pharmacy
มุมมอง 2721 วันที่ผ่านมา
Cash Copay Collection: Daily Processes and Best Practices to Protect Your Pharmacy
Pharmacy Audit Masterclass: Strategies for Audit Success Featuring Trenton Thiede
มุมมอง 6821 วันที่ผ่านมา
Pharmacy Audit Masterclass: Strategies for Audit Success Featuring Trenton Thiede
Partial Buy-ins vs. Junior Partnerships: Key Insights for Pharmacy Owners
มุมมอง 3828 วันที่ผ่านมา
Partial Buy-ins vs. Junior Partnerships: Key Insights for Pharmacy Owners
Master The Margin Episode 4 | Pharmacy Leasing 101: Capital Lease vs. Operating Lease
มุมมอง 43หลายเดือนก่อน
Master The Margin Episode 4 | Pharmacy Leasing 101: Capital Lease vs. Operating Lease
Maximize Tax Savings: The Right Way to Depreciate Pharmacy Equipment
มุมมอง 35หลายเดือนก่อน
Maximize Tax Savings: The Right Way to Depreciate Pharmacy Equipment
Navigating Cash Flow Challenges With Recent Pharmacy Chain Closures
มุมมอง 96หลายเดือนก่อน
Navigating Cash Flow Challenges With Recent Pharmacy Chain Closures
Avoid This Common Mistake When Selling a Pharmacy Location
มุมมอง 17หลายเดือนก่อน
Avoid This Common Mistake When Selling a Pharmacy Location
The Pharmacy Ownership Podcast | Episode 6 | The Multi Store Owners Guide to Selling Your Pharmacy
มุมมอง 39หลายเดือนก่อน
The Pharmacy Ownership Podcast | Episode 6 | The Multi Store Owners Guide to Selling Your Pharmacy
Master The Margin Episode 3: Fixed Assets 101
มุมมอง 59หลายเดือนก่อน
Master The Margin Episode 3: Fixed Assets 101
The Hidden Impact of Copayment Waivers
มุมมอง 44หลายเดือนก่อน
The Hidden Impact of Copayment Waivers
Medsync Secrets: The Financial Perks Every Pharmacy Should Know
มุมมอง 542 หลายเดือนก่อน
Medsync Secrets: The Financial Perks Every Pharmacy Should Know
Enhancing Rx Workflow: Maximizing Medsync Featuring Weston Humphreys, COO of Tyson Drugs
มุมมอง 1022 หลายเดือนก่อน
Enhancing Rx Workflow: Maximizing Medsync Featuring Weston Humphreys, COO of Tyson Drugs
Why Categorizing Assets is Vital for Pharmacies
มุมมอง 302 หลายเดือนก่อน
Why Categorizing Assets is Vital for Pharmacies
Exploring Updates in Fraud Waste and Abuse Audits Featuring Brad Howard, Esq. Brown & Fortunato
มุมมอง 952 หลายเดือนก่อน
Exploring Updates in Fraud Waste and Abuse Audits Featuring Brad Howard, Esq. Brown & Fortunato
Data Integrity: The Backbone of Pharmacy Accounting
มุมมอง 272 หลายเดือนก่อน
Data Integrity: The Backbone of Pharmacy Accounting
Tradeshow Series: 2024 Cardinal RBC and ThoughtSpot
มุมมอง 542 หลายเดือนก่อน
Tradeshow Series: 2024 Cardinal RBC and ThoughtSpot
503B Compounding Deep Dive: A Step-by-step Journey
มุมมอง 4542 หลายเดือนก่อน
503B Compounding Deep Dive: A Step-by-step Journey
Employee Retention: Tips to Help Your Pharmacy Thrive
มุมมอง 293 หลายเดือนก่อน
Employee Retention: Tips to Help Your Pharmacy Thrive
Master The Margin Episode 2: Understanding the Pharmacy Balance Sheet: A Snapshot in Time
มุมมอง 723 หลายเดือนก่อน
Master The Margin Episode 2: Understanding the Pharmacy Balance Sheet: A Snapshot in Time
The Prescription for Talent: Finding, Hiring, and Keeping the Best in Pharmacy Featuring Tyler Davis
มุมมอง 803 หลายเดือนก่อน
The Prescription for Talent: Finding, Hiring, and Keeping the Best in Pharmacy Featuring Tyler Davis
Beyond The Counter: Pharmacies Launching Their Own Insurance Companies
มุมมอง 493 หลายเดือนก่อน
Beyond The Counter: Pharmacies Launching Their Own Insurance Companies
Unpacking Drug Pricing, Integration, and Pharmacy Opportunities Featuring Dared Price
มุมมอง 933 หลายเดือนก่อน
Unpacking Drug Pricing, Integration, and Pharmacy Opportunities Featuring Dared Price
Future-Proof Your Pharmacy: Essential Advice for 2024
มุมมอง 603 หลายเดือนก่อน
Future-Proof Your Pharmacy: Essential Advice for 2024

ความคิดเห็น

  • @GreyHoward-l7g
    @GreyHoward-l7g 5 วันที่ผ่านมา

    Good job dad!

  • @vinayeapen7791
    @vinayeapen7791 23 วันที่ผ่านมา

    Why wouldn’t independents have their internal discount card (cost plus) to sway away customers from utilizing discount cards

  • @aminamiri430
    @aminamiri430 2 หลายเดือนก่อน

    Your channel is the exact thing I was looking for Good Job🤩

    • @sykescompanyp.a.
      @sykescompanyp.a. 2 หลายเดือนก่อน

      Absolutely! Let us know if you have any questions and feel free to explore more content on our site: www.sykes-cpa.com/

  • @thejaebeing
    @thejaebeing 2 หลายเดือนก่อน

    I was talking to my local 503a pharmacist here in Northern Michigan (Healthway Pharmacy) about selling 503b products in their 503a pharmacies. They said that it is only matter of time before something like this will be shut down. Instead recommended organizations like PCCA to be a credible source for compounding. What is your take on PCCA vs NCPA (which you promote in your channel)?

    • @sykescompanyp.a.
      @sykescompanyp.a. 2 หลายเดือนก่อน

      Hey Jae! We always encourage pharmacy owners to perform their own due diligence when it comes to 503b and any compounding opportunities. We proudly support both the NCPA and PCCA which both serve different functions in the industry.

  • @dreitzell78
    @dreitzell78 3 หลายเดือนก่อน

    Not a bunch of other options here in Louisiana. Guess we need to start our own here. Thanks Dared

  • @dreitzell78
    @dreitzell78 3 หลายเดือนก่อน

    Nice info. Thanks guys and gals. Long term care at home, have to check that out

    • @sykescompanyp.a.
      @sykescompanyp.a. 3 หลายเดือนก่อน

      Absolutely - be sure to check out our podcast from the tradeshow floor at McKesson where we talk more about Long-term Care at Home: Time stamp is 3:27 - 4:30: th-cam.com/video/TOOvXwdLwGI/w-d-xo.html

  • @thejaebeing
    @thejaebeing 3 หลายเดือนก่อน

    Wow... This is such an underrated channel.

    • @sykescompanyp.a.
      @sykescompanyp.a. 3 หลายเดือนก่อน

      Thanks for the compliment!

  • @AustinMurray1
    @AustinMurray1 4 หลายเดือนก่อน

    Great episode!

  • @botchjones1130
    @botchjones1130 4 หลายเดือนก่อน

    Thoughts on QuVa?

    • @sykescompanyp.a.
      @sykescompanyp.a. 4 หลายเดือนก่อน

      Thanks for your comment. We don't have any specific recommendations on 503B suppliers, we do have contacts that can help you with due diligence.

  • @botchjones1130
    @botchjones1130 4 หลายเดือนก่อน

    503b compounder here. The difference is 503b care about profits solely and willing to take shortcuts anywhere necessary at the risk of patient safety

  • @rimo9734
    @rimo9734 5 หลายเดือนก่อน

    Any Marketing tips to help push out the GLP-1’s from the pharmacy to Dr’s office?

    • @sykescompanyp.a.
      @sykescompanyp.a. 5 หลายเดือนก่อน

      Hey there! Great question. Nicolette is actually a hosting a webinar about that topic this week. Here is the link to register: www.linkedin.com/posts/atrium24_pharmacygrowth-dotti-atrium24-activity-7197349355882786816-hdxB?

  • @MustafamajedAlzibaq
    @MustafamajedAlzibaq 6 หลายเดือนก่อน

    بارك الله فيك

  • @MustafamajedAlzibaq
    @MustafamajedAlzibaq 6 หลายเดือนก่อน

    ❤❤❤

  • @primetimefaiz
    @primetimefaiz 6 หลายเดือนก่อน

    inspirational

    • @sykescompanyp.a.
      @sykescompanyp.a. 6 หลายเดือนก่อน

      Thank you so much! We enjoyed having Hashim on.

  • @alizaibak6343
    @alizaibak6343 6 หลายเดือนก่อน

    Hashim Zaibak is a milwaukee hero

  • @AnnalisaAlfieri-fi2bc
    @AnnalisaAlfieri-fi2bc 6 หลายเดือนก่อน

    Let’s goo

  • @DominikBauer-uy2zg
    @DominikBauer-uy2zg 6 หลายเดือนก่อน

    ❤️❤️

  • @RossWilson-ft2tc
    @RossWilson-ft2tc 6 หลายเดือนก่อน

    Good job

    • @sykescompanyp.a.
      @sykescompanyp.a. 6 หลายเดือนก่อน

      Thank you! We enjoyed having Hashim on our show.

  • @ApollonBureau
    @ApollonBureau 6 หลายเดือนก่อน

    💕💕

  • @CamilaCalderon-uf4ok
    @CamilaCalderon-uf4ok 6 หลายเดือนก่อน

    I like this man

  • @MustafamajedAlzibaq
    @MustafamajedAlzibaq 6 หลายเดือนก่อน

    Let’s go pharmacist hashim ❤❤

    • @sykescompanyp.a.
      @sykescompanyp.a. 6 หลายเดือนก่อน

      Hashim Zaibak is the best!

  • @KrystaValdovinos-x4m
    @KrystaValdovinos-x4m 8 หลายเดือนก่อน

    I'm located in Florida, I'd be interested in being your pharmacist :)

  • @tedadamgreen
    @tedadamgreen 8 หลายเดือนก่อน

    Thanks for this info … I need to listen to the longer podcast next week Very much appreciated

    • @sykescompanyp.a.
      @sykescompanyp.a. 8 หลายเดือนก่อน

      Thanks for listening Adam! Let us know what you think of the episode.

  • @tedadamgreen
    @tedadamgreen 9 หลายเดือนก่อน

    Great discussion on a service that can help the underserved

    • @sykescompanyp.a.
      @sykescompanyp.a. 9 หลายเดือนก่อน

      Glad you enjoyed it! We're having her on again soon so stay tuned.

  • @drugstoredog8660
    @drugstoredog8660 9 หลายเดือนก่อน

    Definitely want to learn more about this! Will contact asap!

    • @sykescompanyp.a.
      @sykescompanyp.a. 9 หลายเดือนก่อน

      Absolutely! Feel free to set a meeting with us if you have any questions: www.sykes-cpa.com/schedule-a-meeting/

  • @jessikacox7535
    @jessikacox7535 10 หลายเดือนก่อน

    Hi! Texas here. Clinical Services. Looking into getting into clinical services. Any tips? Recommendations? What to look out for?

    • @sykescompanyp.a.
      @sykescompanyp.a. 10 หลายเดือนก่อน

      Hey Jessika! Great question. Without knowing your pharmacy specifically it's hard to give you any specific recommendations. We have videos and articles that talk about clinical services so feel free to binge (we're releasing more soon). You can also schedule an RX Assessment with us and mention your goal of expanding into clinical services, we'll be able to help you even more: www.sykes-cpa.com/rx-assessment-service/ Let us know what other questions you have. Happy to help!

  • @ronkeobaro1647
    @ronkeobaro1647 11 หลายเดือนก่อน

    It is crazy😂😂😂

  • @ronkeobaro1647
    @ronkeobaro1647 11 หลายเดือนก่อน

    Thank you🙏🙏👏🏽👏🏽

  • @James-sy8un
    @James-sy8un ปีที่แล้ว

    Good info and a thumbs up for the sick beats at the end.

    • @sykescompanyp.a.
      @sykescompanyp.a. ปีที่แล้ว

      Thanks James - Maybe we should release a full version?!

  • @JeffthePharmacist
    @JeffthePharmacist ปีที่แล้ว

    I’m watching

  • @JeffthePharmacist
    @JeffthePharmacist ปีที่แล้ว

    Great discussion!

  • @JeffthePharmacist
    @JeffthePharmacist ปีที่แล้ว

    Ben, Sykes and co this is really impressive !

    • @ollinsykes9319
      @ollinsykes9319 ปีที่แล้ว

      Thank you for your positive comments!

    • @mfkhan466
      @mfkhan466 ปีที่แล้ว

      ​@@ollinsykes931915:06 to 15:15

  • @Jake-sb2om
    @Jake-sb2om ปีที่แล้ว

    Lot's of truth in Christine's assessment of Sykes! You will not find a more honest and straightforward accountant that truly understands the uniqueness of the business of pharmacy.

  • @myrvienneleon
    @myrvienneleon ปีที่แล้ว

    Can you provide 3 Pharmacy Niche banks you all recommend?

    • @sykescompanyp.a.
      @sykescompanyp.a. ปีที่แล้ว

      Great question. We recommend: - Live Oak Bank - 1st Med Financial - First Financial Bank

  • @pharmdadfit
    @pharmdadfit ปีที่แล้ว

    What do you use for micronutrient testing? Where can I find out more information about this?

    • @cpagolfer1
      @cpagolfer1 ปีที่แล้ว

      I would recommend reaching out to TW at Williamsburg Drug in Williamsburg, VA. I'm sure he would be delighted to take your question. Thank you for listening to the Podcast and for your question!

  • @endrismusa-ee1ve
    @endrismusa-ee1ve ปีที่แล้ว

    That is good

  • @afghantech5856
    @afghantech5856 ปีที่แล้ว

    Can you give some information about leasing and licenses of independent pharmacy?

    • @sykescompanyp.a.
      @sykescompanyp.a. ปีที่แล้ว

      Hi, AfghanTech! Send us an email at info@ask-sykes.com so we can gather more information to help serve you better. Thank you!

  • @andrewclark2556
    @andrewclark2556 2 ปีที่แล้ว

    What makes start up pharmacy difference or qualify for the credit

  • @omodara6542
    @omodara6542 2 ปีที่แล้ว

    How are you able to afford all these with insurance terrible contract, reimbursement and DIR fees

    • @sykescompanyp.a.
      @sykescompanyp.a. 2 ปีที่แล้ว

      Thank you for bringing up this terrific question! Understanding the pharmacy industry, the team at Sykes & Company, P.A. works with pharmacy owners like the Shoffners to track their financials on a daily, weekly and monthly basis with good accounting. This gives them opportunities for managing expenses and their cash flow as well as planning ahead for taxes. Through this careful management, there are ways to mitigate DIR fees and other challenges for independent pharmacists. Contact Sykes & Company, P.A. with your questions.

  • @minpark4981
    @minpark4981 2 ปีที่แล้ว

    Hi, I just wanted to say great video. I have a question concerning Section 168 elections: do they have to be consistently applied in future years until consent is given to revoke the election or does the election only apply to the year in which it was applied?

    • @ollinsykes9319
      @ollinsykes9319 2 ปีที่แล้ว

      Sec 168 election is made the year the asset goes into use only

  • @Visualxposed
    @Visualxposed 2 ปีที่แล้ว

    What if your business makes less than a 100k can you still write off something that is more than how much your business make in a year?

  • @lancewallach3201
    @lancewallach3201 2 ปีที่แล้ว

    Tax practitioners should be cognizant of the Internal Revenue Service (“IRS”) increasing and focused activity related to micro-captive insurance companies. Additional scrutiny and skepticism may increase the professional liability risk of a CPA firm. CPA firms with clients who have established, or are considering establishing, a Captive should pay special attention to this Risk Alert. - Lance Wallach, tax expert, National Society of Accountants Speaker of the Year and expert witness. Wallachinc@gmail.com 516-236-8440

  • @simplysunshine30215
    @simplysunshine30215 2 ปีที่แล้ว

    Were do u get icd 9 codes for your invoice

  • @scottgier5709
    @scottgier5709 2 ปีที่แล้ว

    Thank you for this great content. Very timely as our local CAH just purchased the independent drugstore downtown. Thank you all.

  • @johnw3915
    @johnw3915 3 ปีที่แล้ว

    Buying woot woot! I only thought consultants said this stuff so thank you for saying it here. When I was a lead tech/buyer for many pharmacy types this is worth so much annually! There are many ways to save and props go to the people that look at drug sales data. Understanding what you sell is where your expenses can be lowered most. I really do enjoy your talking points, thanks

  • @MDavidoff
    @MDavidoff 3 ปีที่แล้ว

    Independent pharmacy owners should watch more videos like this. Great Job

  • @emmanuelpaul3197
    @emmanuelpaul3197 4 ปีที่แล้ว

    Am so happy I came across vividlogs"com for they got me $3k through their bank wire transfer service

  • @anitawilson3617
    @anitawilson3617 4 ปีที่แล้ว

    I THOUGHT THE PYSICIANS SAY NO CURE FOR HIV/AIDS?, I AM TELLING YOU TODAY THAT DR GADAGODO CURE HIV/AIDS WITH HIS HERBAL MEDICINE AND ONCE YOU GET CURED YOU ARE FOREVER CURED IT IS NEVER REVERSABLE. MY NAME IS ANITA WILSON FROM THE UNITED STATE OF AMERICA,I AM USING THIS GREAT OPORTUNITY TO SAVE LIFE BY SHARING MY TESTIMONY THAT THERE IS A CURE FOR HIV/AIDS BECAUSE I AM A LIVING TESTIMONY,I SUFFERED FOR HIV/AIDS FOR GOOD 1YEAR AND2MONTHS AFTER LOOSING HOPE THAT I CAN NEVER GET THE CURE BEACAUSE THE DOCTORS SAID THERE IS NO CURE FOR IT,BUT THANKS BEEN TO THIS GREAT MAN CALLED DR GADAGODO WHOM I READ A TESTIMONY ABOUT ON HOW HE CURED HIV/AIDS WITH HIS HERBAL MEDICINE,I NEVER BELIEVE THIS BUT I DECIDED TO CONTACT HIM THROUGH THE STATED EMAIL,gadagodospiritualtemple@gmail.com and he send to me a herbal medicine and ask me to drink and bath with the herbal medicine for one month but to my greatest surprises, i went for a medical test after two weeks and my status was negetive till today i cant keep sharing this testimony please brothers and sisters there is a cure to hiv/aids, contact thisman for what ever you are going through, what ever sickness you are suffering from, hiv/aids,perkinsons disease, ALS,CANCERS,HERPES. contact him with his email via, gadagodospiritualtemple@gmail.com or watsapp ,+2348121921632.

  • @johnw3915
    @johnw3915 4 ปีที่แล้ว

    I have been purchasing for a pharmacy warehouse (specialty/central fill/mail order and community stores) for a while and I wish more people would see your video. Thank you

    • @ollinsykes9319
      @ollinsykes9319 4 ปีที่แล้ว

      Thanks for your positive comment!