Sykes & Company, P.A. - Certified Public Accountants

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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.

If you own an independent pharmacy through an S-corporation, you’ve probably heard the pitch: pay yourself a modest sala...
10/17/2026

If you own an independent pharmacy through an S-corporation, you’ve probably heard the pitch: pay yourself a modest salary, take the rest as distributions, and save on payroll tax.

The structure is legitimate, and the savings can be real. But the IRS requires S-corp owners who work in the business to be paid reasonable compensation for the services they provide, and that’s where owners most often slip up.

In this article, we break down three common mistakes and what to do instead: https://www.sykes-cpa.com/blog/

Tax filing tells you what happened. Tax planning helps decide what happens next.Both matter, but they're not the same th...
10/17/2026

Tax filing tells you what happened.

Tax planning helps decide what happens next.

Both matter, but they're not the same thing.

For independent pharmacy owners, planning can mean reviewing owner pay before year-end, timing equipment and technology purchases, running a mid-year projection, and catching inventory and payer adjustments before the books close.

Swipe through for a side-by-side comparison and four signs you may be getting filing but not planning.

If you only hear from your CPA once a year, it may be time for a different conversation, contact us: https://www.sykes-cpa.com/ask-sykes/

Happy Birthday, Julie Byrum! 🎂 Thank you for your leadership and expertise as a Shareholder and CPA at Sykes & Co. P.A. ...
10/16/2026

Happy Birthday, Julie Byrum!

🎂 Thank you for your leadership and expertise as a Shareholder and CPA at Sykes & Co. P.A.

Your dedication to our team and our clients makes a real difference every day.

We hope your birthday is joyful and meaningful!

If your pharmacy claims the R&D tax credit for compounding work, the reporting rules are changing.Starting with 2026 ret...
10/16/2026

If your pharmacy claims the R&D tax credit for compounding work, the reporting rules are changing.

Starting with 2026 returns, the IRS wants more detail on the form itself. For most pharmacies, that means the return you file next year.

Here's what's new:

📄 Form 6765 has a new section asking for detail on each "business component" behind your claim.

🧪 For compounders, a business component can be a specific formulation you developed or improved.

✍️ Instead of reporting totals, you'll describe what you were trying to figure out, how you tested it, and the costs tied to it.

Not every pharmacy has to complete the new section. Smaller claims are exempt.

But what doesn't change: no documentation, no credit. It's the first thing an auditor will ask for.

2026 is already three-quarters over. The sooner you start capturing this, the less you'll have to reconstruct later.

Have questions about your R&D credit? Talk to us: https://www.sykes-cpa.com/ask-sykes/

10/16/2026

Were seeing a shift in the independent pharmacy landscape.

More growth-focused owners are looking beyond their existing locations, acquiring pharmacies, expanding their reach, and building stronger independent pharmacy groups.

And for owners looking to retire or exit the business, these acquisitions can create opportunities to transition ownership while keeping their pharmacies independent.

Johnathon Duhon, VP of PMS Sales at RedSail Technologies shares his insights: https://youtu.be/JycgM_eZFVs

And we are LIVE from Houston, Texas for the PCCA ThinkNext International Seminar!Are you here? Come talk to us at Booth ...
10/16/2026

And we are LIVE from Houston, Texas for the PCCA ThinkNext International Seminar!

Are you here? Come talk to us at Booth 701!

10/15/2026

NEW EPISODE : From Retail to Reinvented: Financing Your Pharmacy's Growth Story with Greco De Valencia, Senior Loan Officer at Live Oak Bank

Watch 📺: https://www.youtube.com/watch?v=Uqgoh3k2bpU

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?i=1000796478899

A three-million-dollar pharmacy sale might now hinge on paperwork the seller doesnt even get to choose who orders.

On this episode of the Bottom Line Pharmacy Podcast, we sit down with Greco De Valencia, Senior Loan Officer at Live Oak Bank to break down the 2026 pharmacy growth trends and financing shifts every independent owner needs on their radar.

We cover:

- Why compounding and infusion are seeing renewed momentum
- The real difference between margin and cash flow
- The new SBA SOP taking effect October 1
And more!

  to   in Kansas City! 📸Few things energize us like a room full of independent pharmacy owners. Our team had a great tim...
10/15/2026

to in Kansas City! 📸

Few things energize us like a room full of independent pharmacy owners. Our team had a great time at the NCPA Annual Convention connecting, swapping stories, and talking about what’s ahead for community pharmacy.

Independent pharmacies are the heart of their communities, and helping them thrive is what we do every day at Sykes & Company.

Thank you to everyone who stopped by to say hello!

THIS WEEK 🚨: I'm going to Houston, Texas for the PCCA ThinkNEXT 2026 International Seminar!You can find me and Sykes & C...
10/14/2026

THIS WEEK 🚨: I'm going to Houston, Texas for the PCCA ThinkNEXT 2026 International Seminar!

You can find me and Sykes & Company at booth 701.

Stop by and talk to us about the power of compounding for your pharmacy.

See you Oct 15-17!

If your pharmacy ships, delivers, or sells into another state, that state may expect you to file with it, even if you've...
10/14/2026

If your pharmacy ships, delivers, or sells into another state, that state may expect you to file with it, even if you've never set foot there.

That connection is called nexus, and it's one of the most overlooked tax issues we see.

In this article, we break down What Every Pharmacy Owner Should Know About Nexus: https://www.sykes-cpa.com/what-every-pharmacy-owner-should-know-about-nexus/

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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