elderex1


Exhibit 1: CPA ElderCare Services
Direct Services

Financial

  • Receive, deposit and account for client receipts.
  • Ensure expected revenues are received.
  • Make appropriate disbursements.
  • Submit claims to insurance companies.
  • Confirm accuracy of provider bills and appropriate reimbursements.
  • Protect the elderly by controlling checkbook and other assets.
  • Provide income tax planning and return preparation.
  • Provide gift tax return preparation.
  • Prepare employment tax returns for caregivers and other household help.

Nonfinancial

  • Arrange for transportation, housekeeping and other services.
  • Manage real estate and other property.
  • Visit and report on elderly on behalf of children in distant locations.

Assurance Services

Financial

  • Review and report on financial transactions.
  • Test for asserters’ adherence to established criteria.
  • Review investments and trust activity.
  • Audit third-party calculations, such as pension, insurance and annuity payouts.
  • Review reports from fiduciaries.

Nonfinancial

  • Measure and report on care provider performance against established goals.
  • Evaluate and report on the performance of other outside parties, such as contractors.

Consulting Services

Financial

ElderCare planning for

  • Housing and support service needs.
  • Declining competency.
  • Death or disability of one or both spouses.
  • Alternative costs of retirement communities and other housing.
  • Housing and care alternatives.
  • Services available in the community.
  • Estate planning.

Fiduciary planning for

  • Financial power of attorney.
  • Health care power of attorney.
  • Guardianship.
  • Trusteeship.
  • Living wills.
  • Advanced medical directives.

Evaluation of health care financing options for

  • Medicare and Medicaid.
  • LTC insurance.
  • Medigap insurance.
  • HMOs.
  • Annuities.
  • Viatical insurance settlements.
  • Reverse mortgages.
  • Sale/leaseback of home.
  • Flexible spending accounts.

Nonfinancial

Family facilitation

  • Mediate/arbitrate family disputes.
  • Provide objectivity for highly emotional issues.
  • Act as a “go-between” between parent and child.

Coordination of support and health care services

  • Lead a team of health care, legal and other professionals.

Other consulting services

  • Help family monitor care.
  • Establish standards of care expected.
  • Communicate expectations to care providers.
  • Establish performance measurement systems.


SPONSORED REPORT

Keeping client information safe in an age of scams and security threats

A look at the Dirty Dozen tax scams and ways to protect taxpayer information.

TAX PRACTICE CORNER

More R&D tax help

"Can I use the R&D credit?" PATH Act enhancements make the credit more attractive to a wider range of taxpayers.

QUIZ

Learn to choose between ‘who’ and ‘whom’

Writers can stumble over who and whom (or whoever and whomever). If you write for business, this quiz can help make your copy above reproach.