SERIES: Master The Margin | Ep. 7 | Life in the Tax Lane: The Right Vehicle Strategy for Your Pharmacy
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SERIES: Master The Margin | Ep. 7 | Life in the Tax Lane: The Right Vehicle Strategy for Your Pharmacy
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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
- The critical importance of mileage logs and business-use documentation
- How a separate delivery LLC could protect your pharmacy from liability
- And more!
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More resources about this topic:
Podcast - One Big, Beautiful, Bill: What the New Tax Proposal Means for Pharmacy Owners
Podcast - Master The Margin: 2025 Tax Outlook
Webinar - Tax Cuts and Jobs Act of 2017: Pharmacy Impact and §199A
Blog – Tax-smart Depreciation on Pharmacy Buildings and Equipment
Blog – Maximize Pharmacy State and Local Tax Deductions (SALT)