SERIES: Master The Margin | Ep. 6 | One Payroll, Multiple Pharmacies: Understanding Common Paymasters
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Multi-store owners: Are running payroll through all of your locations? This episode is a must listen...
In this episode of Master the Margin, Scotty Sykes, CPA, CFP® and Kathy Blanchard, Senior Pharmacy Accountant, dive into the nuances of common paymaster status and why it’s often misunderstood in multi-store pharmacy operations.
They break down:
- What a common paymaster is—and how it (theoretically) benefits employers
- Why most multi-store pharmacy owners don’t qualify, despite good intentions
- The payroll risks of misclassifying employees across entities
- The role of controlled group rules in IRS compliance
- How common ownership impacts payroll, 401(k)s, benefits, and more
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More resources about this topic:
Podcast - One Big, Beautiful Bill: What the New Tax Proposal Means for Pharmacies
Podcast - The Multi Store Owners Guide to Selling Your Pharmacy