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Industry: Healthcare

  • Roof Repair - A Cost Segregation Case Study
    A local business purchased a building for an upcoming warehouse operation, and – 15 years later – the business discovered the roof of its building had started to leak. The leak, according to a quote from a roofing company, would cost the company $200,000 to repair. It’s a flat roof and only one section seems to be in need of repair. Otherwise the roof structure is in good shape, according to the roofing company, so the business decides to replace the entire roof’s rubber membrane with a new, waterproof membrane. How should the business treat the expenditure for tax and financial statement purposes?
  • IntegraMed Streamlines Accounting Operations with Sage Intacct
    A fast growing medical company was continually opening new clinics throughout the U.S. Every time they added a new clinic, their financial system required a complete new implementation for that new clinic, including chart of accounts, vendors and configuration. Their accounting team was spending hours creating new companies, setting up intercompany transactions and creating consolidating reports to reflect its growing portfolio of clinics. In addition, processing vendor invoices from multiple locations and satisfying managers’ reporting requirements was a serious burden on the staff. All in all, their finance system was not scalable for their rapid growth.
  • BlumShapiro's Intervention With the IRS Results in Avoidance of Significant Tax Adjustment
    A healthcare company that owns and operates several nursing homes was ordered to seek help in revising its accounting procedures to comply with both Connecticut and IRS regulations. In addition to upgrading its policies and practices, previous accounting issues had been noticed by the IRS with a possible audit pending.

Advisors | Auditors | Consultants | CPAs – BlumShapiro is one of the premier Healthcare CPA firms in New England and a Top 100 CPA Firm in the U.S. Our professionals serve medical and dental practices, hospitals, skilled nursing and long term care facilities in Boston (MA), Hartford (CT), Cranston (RI), Shelton (CT), Quincy (MA) and Newton (MA) with audit, tax and business consulting services. We are members of the Association of Long Term Care Managers, Connecticut Assisted Living Association, Healthcare Financial Management Association and the Rhode Island Healthcare Association.