Pharmacist Blog
Stay up to date with the latest accounting and tax planning ideas for Pharmacists
8 Reasons Why Pharmacy Owners Should Stop Contributing to RRSPs, Do This Instead
It's RRSP season, the deadline of March 1, 2019 is fast approaching! While many pharmacy owners will make last minute contributions, this might be your last. Many are not aware that there are far better and faster ways to save for retirement than an RRSP. Do you want...
read more
7 Ways To Grow Your Pharmacy in 2019
2018 was a tough year with 25-40% reductions in generic prices, affecting all pharmacies in Ontario. I speak with pharmacy owners everyday and this is what most are doing... ...NOTHING! Some are looking at overhead expenses to see where they can trim some fat but...
read more
Tax Changes Starting January 1, 2019
The start of every year brings new tax changes that the Canadian government implements. These tax changes affect how much money you'll receive every payday in 2019. As a result, you'll likely be scratching your head when you see that your net pay is a little lower...
read more
Year End Tax Planning Tips for 2018
It's that time of year again, the holiday season! Now is the time where most people reflect on the year they've had, what they could have done better, and set goals for an even more successful 2019. How about saving money on taxes? Many list "saving more money" as a...
read more
How to Save $372-$1,117+ Every Year on Medical Expenses
Routine medical expenses happen every single year: Cleanings at the dentist Vision (contacts or new glasses) Prescription drugs Massages Chiropractic sessions Physiotherapy The list goes on... On average, our clients spend about $1,000-$3,000 per year on medical...
read more
What happens if you die without a personal Will?
Are you one of approximately 74% of Canadians who don't have a valid or up-to-date personal Will? Have you not prepared your Wills because... ...you think your personal situation is simple? ...you think your financial situation doesn't warrant having one? ...you think...
read more
How Do I Fund My New Pharmacy? Let Us Show You How!
Growth of the Independent Pharmacist: We have been speaking to more and more pharmacist that are tiered of being a staff or relief pharmacist and wanting to start their own pharmacy. Many of our staff and relief pharmacist’s clients have learned how to manage and...
read more
Avoid This Mistake With Your Pharmacy Corporation and Save $221,000 in Tax
As a pharmacy owner, how you setup your corporation will determine how much tax you will pay in the future when you sell your pharmacy.Do you want to pay more in tax than you should?That's right: no one does!Unfortunately, many pharmacy owners take shortcuts when...
read more
Are You Drowning In Accounting & Professional Advisory Fees?
Are you paying too much in Accounting & Professional Advisor Fees? Do you feel that you are paying too much for accounting and professional fees? Is your accountant proactive? What does that even mean? Does your financial advisor or lawyer communicate with each...
read more
Relief and Locum Pharmacists: When (if ever) Should I Incorporate?
Many locums and reliefs start out as a sole proprietor and later become incorporated. But at what point (if ever) should you incorporate?There are many benefits of incorporation that you have probably heard about from your peers.But there are also additional legal,...
read moreFOLLOW US
GET IN TOUCH
LOCATION
1100 Burloak Drive, Unit 300, Burlington, ON L7L 6B2
+1-888-503-7555
© 2018 Pharma Tax
This site is not part of Facebook website or Facebook Inc. Additionally, this site is not endorsed by Facebook in any way, Facebook is a trademark of Facebook, Inc.