by pharma_admin | Pharmacy Owners, Recent Graduates, Reliefs, Retiring Pharmacists, Staff Pharmacists |
If you haven’t heard of surplus stripping as a tax strategy, you are not alone. However, it offers high income earners a great opportunity to withdraw funds at a lower tax rate. It benefits people in specific situations, but as of January 1, 2024, because of tax...
by pharma_admin | Pharmacy Owners, Retiring Pharmacists, Staff Pharmacists |
Businesses, including pharmacies, have access to more and more data than ever before. However, trying to sort through raw data to try to obtain meaningful data insights is difficult. Pharmacy owners and self-employed pharmacists in the pharmaceutical industry can...
by pharma_admin | Pharmacy Owners, Reliefs, Retiring Pharmacists, Staff Pharmacists |
Canadian pharmacy owners can claim meals and entertainment expenses as business tax deductions, but they need to be legitimate, work-related claims. It’s important to carefully follow CRA guidelines and rules to avoid an audit. What Pharmacy-Related Situations...
by pharma_admin | Pharmacy Owners, Reliefs, Retiring Pharmacists, Staff Pharmacists |
With awareness about working from home arrangements increasing over the past few years, we have had more self-employed pharmacists asking about how to claim home office expenses, and whether or not it’s worth it. While most pharmacists work the majority of their...
by pharma_admin | Pharmacy Owners, Reliefs, Retiring Pharmacists, Staff Pharmacists |
The optional Special Employment Insurance (EI) Program for self-employed individuals in Canada is designed to provide support during specific circumstances, such as sickness, maternity/paternity leave, and caregiving responsibilities. Pharmacy owners and self-employed...
by pharma_admin | Pharmacy Owners, Retiring Pharmacists, Staff Pharmacists |
Owning and managing pharmacies is hard work. A lot of expertise outside of pharmaceutical knowledge is needed for the business aspects - most of which isn't covered in pharmacy school.The annual, monthly, and daily operations of pharmacy accounting is complex and...
