6 accounting issues pharmacist-owners face when selling
There are good business reasons to adopt sound accounting practices. Detailed, exact books can help you assess your pharmacy’s financial performance and find areas of strength, weakness, opportunity and risk. They also make your life a lot easier when you have to deal with regulators, tax authorities or financial institutions. But they are absolutely essential when you want to sell your business for a good price.
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More Blog Posts in This Series
1/16/2024
12 business resolutions for pharmacist-owners in 2024
The new year – still fresh – presents an opportunity not only to look back at all that was accomplished over the past 12 months, but also to look ahead and set priorities for the new year. That is especially the case if you are preparing to put up your pharmacy for sale within the next five years or so, because that is how long a successful business sale transaction can take in the pharmacy industry.
11/28/2023
Year-end tax-loss selling for your pharmacy business
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. This investment strategy kicks in when you sell a stock for a capital loss, so that you can use the loss to offset realized capital gains with a view to reducing the tax you ultimately pay.
11/14/2023
Selling your pharmacy? Win the mental game first
Many pharmacist-owners sell their companies and then find something in their lives is missing. They might have dreamed of retirement for a long time as a nirvana of comfort and leisure, but the reality turns out to be something different, and disappointing. The truth is, retirement can be difficult, even if you have a tidy nest egg that will support you and your loved ones for the rest of your life.
