Sykes & Company, P.A. - Certified Public Accountants

Sykes & Company, P.A. - Certified Public Accountants For over 40 years, we have been helping independent pharmacies grow and thrive. If you are a pharmacy owner, we understand how your business operates.

We know industry benchmarks and can help you outperform national averages.

09/01/2026

📚 Tax basics for pharmacy owners: What is "basis"?

Basis is essentially a running total of what you have invested in your pharmacy over time.

Here's how it's calculated:

Your initial investment in the business
+ Earnings passed through to you as a shareholder
+ Money you've directly loaned to the entity
- Losses passed through to you
- Distributions you've taken out

Your basis is tracked continuously and directly affects your tax position and eventually, if you sell, your basis determines your taxable gain (sale price − basis = gain).

Ollin Sykes, CPA.CITP, CMA shares his insights: https://www.youtube.com/watch?v=OB-U9cqUfDA&t=3s

🎙️ This Week on the Bottom Line Pharmacy Podcast: Infusion Pharmacy Ownership in 2026: The Legal Side of Infusion Pharma...
09/01/2026

🎙️ This Week on the Bottom Line Pharmacy Podcast: Infusion Pharmacy Ownership in 2026: The Legal Side of Infusion Pharmacy

We cover:

- Why home infusion pharmacies are consolidating
- The state-by-state licensing patchwork that trips up new clinics
- What regulatory and financial due diligence actually looks like when buying or selling an infusion pharmacy
And more!

🗓️ This Thursday, September 3rd at 7am est.

Watch 📺: https://www.youtube.com/playlist?list=PLbdUM3PBAwLvuE95Acu1EbvpV_PUBqVfo

Spotify 🎧: https://open.spotify.com/show/1VStwVBZ5Y7OIy2REiJPFV

Apple Podcasts 🎧: https://podcasts.apple.com/us/podcast/the-bottom-line-pharmacy-podcast-sykes-company-p-a/id1641766864

08/31/2026

Some days accounting comes with a side of golf swings and free tumblers.

Thank you, Blue Door Pharmacies, for the shirts and cups, working with clients is always a hole in one! ⛳️👕

Check them out: https://bluedoorpharmacies.com/

🎉 Happy Birthday to Christie Ervin, our Senior Accountant!It's Christie Ervin's birthday 🎈 and we're wishing our Senior ...
08/29/2026

🎉 Happy Birthday to Christie Ervin, our Senior Accountant!

It's Christie Ervin's birthday 🎈 and we're wishing our Senior Accountant a day as great as her spreadsheets are accurate.

Hope your day is filled with celebration! 🎂

Most independent pharmacy owners don't think about taxes until December.Makes sense...it's year-end. But by then, it's u...
08/28/2026

Most independent pharmacy owners don't think about taxes until December.

Makes sense...it's year-end.

But by then, it's usually too late to do anything meaningful about your tax situation.

Here's why timing costs real money:

1️⃣ Entity & compensation planning needs lead time: Reasonable comp adjustments, retirement contributions, and entity structure decisions need to be in place before year-end, not decided in the last two weeks of December.

2️⃣ Depreciation & purchase timing: Section 179, bonus depreciation, and inventory purchase timing only work with advance planning, based on knowing your income picture well before year-end.

3️⃣ Estimated tax payments: Due all year long. If no one's adjusting them as your numbers change, you're either overpaying (tying up cash) or underpaying (facing penalties).

4️⃣ Good planning is iterative: One December meeting means reacting to a snapshot. A mid-year conversation means you can still act on it.

Want to see where you stand? Contact us: https://www.sykes-cpa.com/ask-sykes/

08/28/2026

Ready to start selling peptides? Here's where to begin.

Good news: traditional pharmacies don't need to change anything structurally to start. But that doesn't mean you should wait to act.

Here's the stepwise approach:

✅ Get educated: On the products, the science, and the space itself

✅ Vet your partners now: Start looking into 503Bs and central fill partners before you need them

✅ Understand the workflow: Get familiar with how these partnerships actually operate

✅ Consider a GPO: Aggregating purchasing power helps small independents compete on pricing, even at lower volumes

✅ Start with what's already available: Things like NAD and existing growth hormone peptides let you build your foundation today

✅ Line up your prescribers: Explore telemedicine if you want to build that in-house

Don't wait until the market shifts to figure out your next move.

Build the infrastructure now, partnerships, workflows, prescriber relationships, so you can grow right alongside the peptide space as it expands.

Anne West, PharmD, Clinical Pharmacy Director at ATRIUM24 shares her insights: https://youtu.be/nN-Myv4RTkY?si=zayxvaJVjzK4tq1A

08/27/2026

NEW EPISODE 🎙️: Understanding Basis: What Pharmacy Owners Need to Know

Watch 📺: https://www.youtube.com/watch?v=OB-U9cqUfDA

Spotify 🎧: https://open.spotify.com/show/2Mi0QJdA98BSOvouepE7ss

Apple Podcasts 🎧: https://podcasts.apple.com/us/podcast/the-pharmacy-ownership-podcast/id1730390534

Basis is one of those topics every pharmacy owner hears about but few really understand until it's time to sell.

In this episode of the Pharmacy Ownership Podcast, Ollin Sykes, CPA, CMA, CITP breaks down what basis actually means, why it matters, and how it directly impacts your tax bill when you sell.

We cover:

- How basis builds over time
- What gain on a sale comes down to
- The connection between basis and exit planning
- The most common misconceptions owners have
And more!

🐾 It's National Dog Day, and our furriest team members wanted in on the action! Meet the good boys and girls who keep ou...
08/26/2026

🐾 It's National Dog Day, and our furriest team members wanted in on the action!

Meet the good boys and girls who keep our Sykes & Company crew smiling (and occasionally interrupt our Team's calls). 🐶💙

🌟 Client Spotlight: Winningham PharmacyBradford, Arkansas may be a small town, but its residents have access to somethin...
08/26/2026

🌟 Client Spotlight: Winningham Pharmacy

Bradford, Arkansas may be a small town, but its residents have access to something that communities many times its size would envy: a locally owned, independent pharmacy that puts personalized, caring service first.

What sets Winningham apart is their focus on building real relationships. Creating a welcoming, professional environment where patients feel known and cared for, not processed. In a small town like Bradford, that's not just good service. It's what community healthcare is supposed to look like.

We're proud 💙 to support Winningham Pharmacy and the patients who count on them every day.

08/26/2026

What's actually next for peptide regulation?

Short answer: it's slow, and nobody has a clear timeline.

After the next PCAC meeting, the FDA moves into standard rulemaking. Meanwhile, the industry isn't waiting around.

That's the tension right now: the industry moves fast, the law moves slowly. And that gap isn't closing anytime soon.

Some in the space are calling this a "point of no return" - the market has already moved so far that meaningful regulation would require something drastic, either from lawmakers or from whoever ends up enforcing against bad actors flooding the space with unchecked marketing claims.

For pharmacies watching and waiting: don't expect clarity on a fixed timeline. Plan for a long runway, not a quick resolution.

Dae Lee, Pharm.D, Esq., CPBS shares his insights: https://youtu.be/nN-Myv4RTkY?si=zayxvaJVjzK4tq1A

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401 E Church Street Ext Fl 3
Edenton, NC
27932

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Thursday 9am - 5pm
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