Mike Jaczko - Max Bearisto
ARTICLES BY THIS AUTHOR
06/07/2022
Buying real estate – how to give money to your children
With interest rates rising, the housing market seems to be in a state of flux.
05/31/2022
Benchmarking your pharmacy’s professional services performance
Effective benchmarking is an essential step towards boosting your pharmacy’s performance, and professional services – so often a grey area for pharmacist-owners – is a great place to start.
05/24/2022
Thinking of buying a second pharmacy? You might want to read this first.
To successfully acquire a pharmacy, you need to collect adequate information from reputable sources, understand the regulatory environment and sources of revenue, utilize trusted professionals, and be wary of irrational enthusiasm.
05/17/2022
What's your exit strategy? How to tell when it's time to shut your pharmacy's doors
We are often asked by our clients, “How long will it take for you to sell my pharmacy," to which they seem to expect an answer of “three to six months.” A better question is: how long will it take to plan and execute my exit correctly?
05/10/2022
Pharmacy family feud? Having tough conversations with the ones you love
Wealth tends to sneak up on you as you pay off your first pharmacy mortgage and the surpluses start. Learning how to live with wealth is in fact, a new skill that needs to be learned, just like you learned your professional skills.
05/03/2022
Family-based pharmacies need strong financial planning
Family-owned businesses possess many strengths, such as their ability to look at the long-term development of their operation and align interests between management and owner. This is especially true of “owner-operator” structures often seen with independent pharmacy operators.
01/18/2022
Why the Time Value of Money (TVM) should matter to you
Proper financial planning takes time and the help of a good financial planner to determine your current and long-term financial goals. First you need to understand some basic financial terms, including Time Value of Money.
01/11/2022
TFSAs – Important technical info
What's the difference between a survivor holder (also known as successor holder) and beneficiary? Canadian pharmacy owners and pharmacists in general should be aware of an important wrinkle associated with Tax-Free Savings Account administration.
01/04/2022
4 strategies for pharmacy financial planning for 2022
The new year is (finally) here and that means the time is right, while 2022 is still fresh, to plan your pharmacy's financial plan for the year ahead. Here are four strategies to get you started on your annual plan.
01/09/2024
The great annual debate: RRSPs vs TFSAs?
The RRSP deadline looms the end of February, and the new year brings an additional $7,000 of contribution room for Tax-Free Savings Accounts. Ideally, it would be great to maximize contributions to both RRSPs and TFSAs, but in some cases pharmacists can’t afford to do both every year.