Claiming Your Parent as a Dependent
If you pay over half the cost of supporting a parent, he or she is considered your dependent for federal income tax purposes — which may qualify you to some significant tax breaks.
As an executive leader, your passion is your mission; however, you likely seek ways to improve efficiencies and continuity in the delivery of your mission. That can be a challenge in a highly regulated industry. With operational costs on the rise and funding on the decline, you need to find a path toward achieving your financial objectives while meeting the increasing demand for full transparency.
For the past six decades, Lumsden McCormick has met the accounting needs of health and human service providers of all sizes. Our assurance, tax, and consulting teams work collaboratively to ensure that you reach your financial targets while remaining in full compliance of regulatory requirements for grant-receiving organizations. Our nonprofit professionals will help advise you in your work with private and public sector partners.
Our services to health and human services organizations include:
For more information about our accounting and consulting services for health and human services organizations, contact Jill Johnson or complete the form below.
Understand what opportunities are available to help your business grow such as 0% state corporate income tax. Ask Cory and Alan questions at the end of this informational webinar.Learn More