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.

🎙️ This Week on the Bottom Line Pharmacy Podcast: Distributor Injunctive Relief: What Every Pharmacy Needs to Know with ...
09/09/2026

🎙️ This Week on the Bottom Line Pharmacy Podcast: Distributor Injunctive Relief: What Every Pharmacy Needs to Know with Michael Alexander with Brown & Fortunato.

We cover:

- What distributor injunctive relief is
- How the "Big Three" distributors are now required to flag suspicious controlled substance orders
- Whether proactive outreach to your distributor helps or hurts you
And more!

🗓️ This Thursday, September 10th at 7am est.

Watch 📺: https://youtu.be/hAAo6AY-Ai0

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

09/09/2026

Navigating kickback ethics in infusion pharmacy?

Two areas to consider are where does relationship-building cross the line and what are the ethics of cash-pay pricing.

Infusion pharmacies often hire an account executive early on to build referral relationships with prescribers, but the ethical line gets crossed when the relationship shifts from "we take great care of your patients" to "send me more business and I'll take care of you."

Christopher Pucillo with Boesen & Snow Law shares his insights: https://youtu.be/rdMKsMjN8Zs

09/08/2026

NEW EPISODE 🎙️: Infusion Pharmacy Ownership in 2026: The Legal Side of Infusion Pharmacy with Patrick Carpenter and Christopher Pucillo at Boesen & Snow Law

Watch 📺: https://youtu.be/rdMKsMjN8Zs?si=ZHTEeLDV0TB673ip

Spotify 🎧: https://open.spotify.com/episode/6TkvBZEb1CQU8EdYFSpOJG?si=41913bb5a3674b7d

Apple Podcasts 🎧: https://podcasts.apple.com/us/podcast/the-bottom-line-pharmacy-podcast-sykes-company-p-a/id1641766864?i=1000787641042

Your infusion pharmacy is scaling fast, but is your legal foundation keeping up?

On this episode of the Bottom Line Pharmacy Podcast, we sit down with Christopher Pucillo and Patrick Carpenter of Boesen & Snow Law to break down:

- Why home infusion pharmacies are consolidating in 2026
- The state-by-state licensing patchwork that trips up new infusion clinics
- What regulatory and financial due diligence actually looks like when buying or selling an infusion pharmacy
- Where anti-kickback risk hides in doctor detailing and cash-pay pricing
And more!

🎉 Happy Birthday to Teri S. Moore!We're proud to have Teri on our team, bringing skill and dedication to the work we do ...
09/05/2026

🎉 Happy Birthday to Teri S. Moore!

We're proud to have Teri on our team, bringing skill and dedication to the work we do supporting independent retail pharmacies across the country.

Here's to another great year, happy birthday, Teri! 🎂

09/04/2026

Many pharmacy owners aren't tracking their basis annually and that can lead to costly misunderstandings down the road.

Many owners believe that guaranteeing a business loan increases their basis.

For example: A pharmacy is buying vehicles or equipment. The owner co-signs the note and pledges the equipment as security, while the entity is the one borrowing the money.

In reality, under IRS rules, guaranteeing a loan does not add to your basis even though it feels like personal risk and personal liability.

To generate basis (which you need in order to take losses), you must do these 3️⃣ things:

1️⃣ Personally borrow the money in your own name
2️⃣ Deposit it into your personal bank account
3️⃣ Directly inject those funds into the business

Ollin Sykes, CPA.CITP, CMA shares his insights: https://youtu.be/OB-U9cqUfDA?si=IXmFMTEZue9_usKw

09/03/2026

Basis in Pharmacy a Sale: Buyer vs. Seller

When a pharmacy is bought or sold, basis works very differently depending on which side of the table you're on.

If you're the buyer: Your basis in the assets is simply what you pay for them.

This is often called a "stepped-up" basis - a fresh basis based on the purchase price, whether you're buying the stock of the entity, or individual assets (if cherry-picking specific assets).

If you're the seller: Your basis in the entity is your accumulated total of what you've invested, what you've earned, and direct loans you've made to the business ➖ any distributions you've taken out and losses you've incurred.

Ollin Sykes, CPA. CITP, CMA shares his insights: https://youtu.be/OB-U9cqUfDA?si=IXmFMTEZue9_usKw

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! 🎂

Address

401 E Church Street Ext Fl 3
Edenton, NC
27932

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

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