2026 is shaping up to be a big year for tax planning in pharmacy. With shifting margins, rising operating costs, and evolving reimbursement models, working with Pharmacy Accountants to implement a proactive tax strategy is now a competitive advantage — not just a compliance task.
Top Tax Tips from Expert Pharmacy Accountants:
- Review Your Entity Structure: Make sure your business type (LLC, S-Corp, etc.) is tax-efficient.
- Maximize QBI Deductions: Plan income and wages to claim the full Qualified Business Income deduction.
- Use Pharmacy-Specific Accounts: Keep inventory, payroll, and operational funds separate for accuracy and simplified reporting.
- Optimize Owner Pay Mix: Balance salary and distributions to minimize payroll taxes while staying compliant.
- Claim State Tax Credits: Take advantage of credits for hiring, technology, or health initiatives.
- Plan Purchases Before Year-End: Strategically buy inventory or equipment to maximize deductions.
- Use Section 179 for Equipment: Deduct qualifying equipment costs immediately to reduce taxable income.
- Track DIR Fees: Carefully document and reconcile Direct and Indirect Remuneration (DIR) fees to ensure accurate reporting and avoid tax issues.
Pro Tip: Tax planning isn’t just about compliance — strategic planning can improve cash flow, reduce expenses, and give your pharmacy a competitive edge in 2026.
Plan early, pay less tax, boost profit.
Work with Pharmatax — our pharmacy accountants understand margins, PBMs, and DIR fees inside out.
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