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Tax Services for Long-Term Care

Our Tax Insight Can Help Illuminate Risk & Inspire Confidence

Long-term care and senior living providers face complex industry rules and regulations—and tax is no exception. Whether you’re the owner or executive of a for-profit provider or affiliated with a tax-exempt one, BKD’s consultants specialize in myriad tax issues affecting your organization.

Exempt Organizations

BKD’s tax-exempt professionals prepare more than 2,000 Form 990s each year for long-term care and senior living providers across the country. We offer basic Form 990 assistance but also proactively look to identify other potential tax risks—payroll, worker classification and unrelated business income—and help providers mitigate those risks.

We have a number of specialized tools and services available to help you comply with your tax obligations.

  • BKD 990connect is our online comprehensive data organizer designed to securely and efficiently gather Form 990 information.
  • We provide a number of sample policies and questionnaires. They can be used to meet the reasonable effort standard mandated by the Form 990 instructions for gathering information regarding business and family relationships. Other documents assist with disclosure information about transactions with officers, directors, trustees and key employees.
  • Educational sessions for board members and management regarding a variety of tax issues occur frequently throughout the year.
  • Use our Exempt Organization Tax Planning Checklist to help you identify potential tax risks in areas like fringe benefits, employment taxes, benefit plans, unrelated business income, tax-exempt bonds, fundraising and more.

For-Profit Organizations

BKD proactively works with for-profit providers and business owners to help develop tax planning strategies and stay up to date on industry issues. Some unique tax considerations include:

  • Work opportunity tax credit – We continually see providers leaving money on the table by not taking advantage of this credit for hiring individuals in certain qualifying categories.
  • Cost segregation study – Are you building or expanding a facility? Cost segregation can help you accelerate depreciation tax deductions. 
  • Accounting method analysis – Many providers can realize significant tax deferral opportunities by selecting the optimal method of accounting, i.e., accrual versus cash. If you’ve selected an unfavorable method, BKD may be able to guide you through an accounting method change.
  • Repair regulations – In 2013, the Treasury Department and IRS released final regulations related to capitalization of specific expenses associated with tangible property, also known as the “repair regulations.” BKD’s professionals have been on the leading edge of these changes and can assist you with interpreting and applying the new rules.

Beyond our compliance services, we provide a variety of tax planning and consulting services—from assistance with state and local tax issues to international tax advice and succession planning. Our other services include:

  • International tax services
  • Multistate taxes
  • Property taxes
  • State tax and incentive services

How can we help you?

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We have 40 offices in 18 states, with BKD Trusted Advisors™ who offer solutions for clients across the country.

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