Home Health Care Cost Reports & Tax Returns

TAD’s Cost Reports and Tax Returns Prepares Accurate and Timely Financial Knowledge to Help Home Health Care Agency Owners Manage Their Agency.

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Cost Reports & Tax Returns

Outsourcing to TAD eliminates the days of stressing over year-end reporting and minimizes the risk for potential errors, as TAD’s CPAs provide a natural extension of their continuous, timely accounting services.

The following are the year-end services TAD will provide to your agency:

Prepare required cost reports and supporting documentation
Prepare agency income tax returns
Prepare annual budget
Monitor projected agency taxable income, owner’s tax liabilities, and estimated tax payment requirements

TAD’s year-end reporting provides agencies with required and time sensitive cost reports and tax returns. Medicare and the IRS have complex rules and regulations, therefore, it is vital that home health agencies work with industry experts to achieve accuracy and compliance with both governmental entities.

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COST REPORTS

The Medicare home health cost report is a document that must be filed annually by all Medicare certified home health providers.

If properly completed the report serves as a valuable benchmarking tool, allowing the data to be plugged into the agency’s management information system. This will provide critically important financial reports on a real time basis throughout the current year. This information will become especially relevant with the advent of PDGM.

TAD is extremely cognizant of the proposed cost report changes that will further delineate costs – identifying both costs and statistics that likely will become mandated in a final revision to the cost report.

TAD will work with the agency’s payroll vendor to review for the proper tracking and recording of hours and dollars for nursing categories, therapy assistants and any non-like kind services. In addition TAD will advise management of required information to be gleaned from invoices submitted by outside contractors. In summary, TAD will assess and if necessary modify the general ledger chart of accounts.

Is your current cost report preparer involved to this extent?

If not, by all means contact TAD!

TAD Home Health Consultants provide a variety of services to Home Health care agencies, allowing in-house staff and management to concentrate on core competencies, such as improved patient care, quality assurance, marketing efforts, and managing the business.

By working with hundreds of home health care agencies, TAD has gained valuable experience in the home health care industry. We specialize in home health care billing, home health care accounting, home health care cost reports & tax returns, and free home health care webinars. We have a support team of experts that will help your home health care agency thrive. TAD’s clients range from start-up to well-established Medicare certified home health care agencies.