1/5/2022 The new year is (finally) here and that means the time is right, while 2022 is still fresh, to plan your pharmacy's financial plan for the year ahead. Here are four strategies to get you started on your annual plan.
11/24/2021 Over the past several years we completed a plethora of strategic wealth plans for pharmacy owners contemplating retirement. As people age, the likelihood of requiring some form of supportive care either at home or in some kind of long-term facility increases. It’s a reality that’s growing and cannot be ignored.
11/17/2021 Tax-loss selling is an investment strategy that can lower your tax bill. Interested in knowing more? Does this apply to your pharmacy business? Read on.
11/10/2021 The state of the union for current pharmacy owner finances, both personal and corporate, is best described as being a mix between “For Whom the Bell Tolls” and “The Sun Also Rises.”
11/3/2021 Given that many independent pharmacy owners are in a position to gift money to their children, the question invariably becomes: who, why, how much and when?
10/20/2021 When your exit plan takes a detour – look out for the 4 Ds. The long-term goal of most pharmacist-owners is retirement. It is the significant component of an exit strategy and the most common reason for selling their pharmacy. But, in the real world, events do not always follow our best-laid plans.
10/13/2021 What's the difference between a survivor holder (also known as successor holder) and beneficiary? Canadian pharmacy owners and pharmacists in general should be aware of an important wrinkle associated with Tax-Free Savings Account administration.
10/6/2021 As many readers know, we have a passion for preparing the next generation of pharmacy owners and investors.
9/29/2021 Exiting your business is not unlike having a pilot jump out of an aircraft mid-flight. To say the least, it’s going to give everyone involved a bit of anxiety.
9/15/2021 Whether we acknowledge it or not, we all have a nagging little voice in the back of our heads that goes around and around wondering whether we currently have enough money to retire and if so, can we continue to enjoy the lifestyle we have come to expect?
9/8/2021 No business remains the same over the course of its lifetime, from startup to exit. This is certainly true of a pharmacy business where a pharmacist will often progress from being an employee to becoming an owner and then selling the practice to another pharmacist. This is what we call the pharmacy owner's career lifecycle.
8/31/2021 Most pharmacy business owner families face a plethora of competing demands and struggle with the pressure of fitting everything into their day.
