Life in the Tax Lane: The Right Vehicle Strategy for Your Pharmacy | Master The MarginLife in the Tax Lane: The Right Vehicle Strategy for Your Pharmacy | Master The Margin
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Life in the Tax Lane: The Right Vehicle Strategy for Your Pharmacy | Master The MarginLife in the Tax Lane: The Right Vehicle Strategy for Your Pharmacy | Master The Margin
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About this listen
To lease or not to lease…or to purchase? When it comes to getting a new vehicle for the pharmacy, one of the most common questions we get asked from owners is “should I lease or should I purchase a vehicle?” In this episode of Master The Margin, Scotty Sykes, CPA, CFP and Kathy Blanchard, Senior Pharmacy Accountant break down this question and what it means for your tax strategy including: - Why leasing might limit your tax strategy - How purchasing a vehicle can unlock large write-offs - Importance of mileage logs and business-use documentation - How a separate delivery LLC could protect your pharmacy from liability Check out the full episode with bonus insights: https://masterthemargin.substack.com/ Schedule an Rx Assessment: https://www.sykes-cpa.com/rx-assessment-service/ More resources about this topic: Podcast - One Big, Beautiful Bill: What the New Tax Proposal Means for Pharmacies: https://www.youtube.com/watch?v=99jnN08jGUo Blog – Tax-smart Depreciation on Pharmacy Buildings and Equipment: https://www.sykes-cpa.com/tax-smart-depreciation-on-pharmacy-buildings-and-equipment/