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/)
