Tag: Tax
Tax-paying providers lose 21%, organizations say
June 26, 2020HME News Staff
WASHINGTON - AAHomecare has joined 17 other health care organizations in sending a letter to Congress asking them to fix a tax penalty embedded in the CARES Act.The organizations say, without a correction, tax-paying health care providers lose at least 21% of the benefit of relief funds related to the coronavirus pandemic.“Clawing back one-fifth of the CARES Act relief will only magnify pressures for the HME community and other health care providers,” said Tom Ryan, president and CEO...
Finance: Plan for sale well in advance
June 22, 2012Tom Shay
A. One of the benefits of owning your own business is the option of how you are established for tax purposes. As examples, you can be a partnership, sole proprietorship, LLC, Sub S, or Sub C. The choice is made according to how you can pay the least amount of taxes both individually and as a business.
Over the many years you own the business, your accountant is likely to advise you on how to claim as many expenses as possible. There are items that as an individual you cannot claim as an expense,...