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.
Register for free access or login.
Canadian Healthcare Network is an independent online community for Canadian healthcare professionals in medicine and pharmacy. It is the online home of the Medical Post and Pharmacy Practice + Business.
Membership is free and allows doctors, pharmacists, nurses and many others to get the latest breaking news, updates on clinical guidelines and read (and even write) commentary from your healthcare peers.
More Blog Posts In This Series
12/9/2024
It's year-end tax cleanup time 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.
11/25/2024
Is it time for you to buy another pharmacy?
To successfully acquire a pharmacy, you need to collect adequate information from reputable sources, understand the regulatory environment and sources of revenue, utilize trusted professionals, and be wary of irrational enthusiasm.
11/11/2024
Tips for pharmacists to lend money to your kids the right way
Many pharmacy owners have the means and the desire to loan money to their children for a variety of good reasons. This post considers some of the pitfalls you may wish to consider. We encourage you, as pharmacy owners, to speak with your accountant and estate lawyer before loaning money to your children. You’ll be glad you did!
