CMS, Charity, and Tax breaks question
fairman11
Description
Collection
Title:
CMS, Charity, and Tax breaks question
Creator:
fairman11
Date:
7/3/2013
Text:
While at a dinner party last week, I was having a chat chit with a neighbor
and I made the comment that Medicare has basically become our favorite
charity. Then my mind began turning a bit. So I thought I'd ask, Has
anyone explored tax breaks and or charity style write offs for non paid
medicare claims?
I'm not certain of all the tax ramifications and just wonder if anyone has
explored it. We are basically giving things away, right? Obviously when we
eventually get paid, this scenario goes away. But what of the items you
are not yet paid for at a certain year end? Or what about the items you
never get paid for. Just because the RAC rubber stamped not medically
necessary on your claim does not change the fact that the item was given
to someone, your time was spent, materials were purchased etc. Could our
taxes go down as a result of essentially donating our services?
My next email is to my accountant. I'm curious if anyone else has explored
this.
I'll post replies.
Thanks
Chris Fairman, CPO
Great Lakes P&O
Ypsilanti, MI
and I made the comment that Medicare has basically become our favorite
charity. Then my mind began turning a bit. So I thought I'd ask, Has
anyone explored tax breaks and or charity style write offs for non paid
medicare claims?
I'm not certain of all the tax ramifications and just wonder if anyone has
explored it. We are basically giving things away, right? Obviously when we
eventually get paid, this scenario goes away. But what of the items you
are not yet paid for at a certain year end? Or what about the items you
never get paid for. Just because the RAC rubber stamped not medically
necessary on your claim does not change the fact that the item was given
to someone, your time was spent, materials were purchased etc. Could our
taxes go down as a result of essentially donating our services?
My next email is to my accountant. I'm curious if anyone else has explored
this.
I'll post replies.
Thanks
Chris Fairman, CPO
Great Lakes P&O
Ypsilanti, MI
Citation
fairman11, “CMS, Charity, and Tax breaks question,” Digital Resource Foundation for Orthotics and Prosthetics, accessed November 24, 2024, https://library.drfop.org/items/show/235340.
