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Shawn P Adamo
Shawn P Adamo, CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions.
Category: Finance
Satisfied Customers: 2884
Experience:  CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions.
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Does an assisted living provider in Minnesota pay taxes on

Customer Question

Does an assisted living provider in Minnesota pay taxes on income that comes from medical assistance (state aid money) for a residents rent?
Submitted: 1 year ago.
Category: Finance
Expert:  Shawn P Adamo replied 1 year ago.
I am not sure of your status and that effects the answer. The link below should help: http://www.revenue.state.mn.us/businesses/mncare/Pages/Providers_not_required_to_pay.aspxI will offer you a call to discuss this because I think this is the easiest way to help you. I prefer a call. Often information from a call changes the original answer (based on the limited information supplied in the original question). Additional information normally comes out in a call and I am better able to give an exact answer that applies to YOUR situation. We will speak as long as necessary to resolve your issue. This is the minimum JA allows for additional services ($5-$500). All you need do is accept the offer ($5) and I'll be able to share my number with you in a private screen.-I am available now.
Expert:  Shawn P Adamo replied 1 year ago.
What kind of assisted living provider are you for tax purposes?
Customer: replied 1 year ago.
Sole proprietor for profit
Expert:  Shawn P Adamo replied 1 year ago.

Then the answer would be yes.

If you do not require further assistance PLEASE rate this answer so I can be freed to help another person.

If you have other questions please ask now or later and I'll be happy to respond. I’ll be notified (even if I leave).


Even after you rate my response we can continue to chat here at no extra cost to you.

As I strive for quality vs. quantity, I find I can only handle a limited number of questions at a single time.

Expert:  Shawn P Adamo replied 1 year ago.
I will offer you a call to discuss this and how you can "possibly" not have to pay.
Expert:  Shawn P Adamo replied 1 year ago.
In addition you have certain liability that you may want to distance yourself from.
Expert:  Shawn P Adamo replied 1 year ago.

I see that you declined a discussion via telephone which is fine.

I assume that you have your answer. I would ask that you rate me.

Thanks.

Expert:  Shawn P Adamo replied 1 year ago.
Please rate my response in order that I can close this question out.

It will cost you nothing extra to do so and will help me greatly.

Thank you so very much in advance.