Finance

Have finance questions? Ask a financial expert online.

Ask an Expert,
Get an Answer ASAP!

Does an assisted living provider in Minnesota pay taxes on…

Customer Question
Does an assisted living provider...
Does an assisted living provider in Minnesota pay taxes on income that comes from medical assistance (state aid money) for a residents rent?
Submitted: 2 years ago.Category: Finance
Show More
Show Less
Ask Your Own Finance Question
Answered in 5 minutes by:
6/19/2015
Financial Professional: Shawn P Adamo, CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions. replied 2 years ago
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: 2,884
Experience: CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions.
Verified
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.
Ask Your Own Finance Question
Financial Professional: Shawn P Adamo, CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions. replied 2 years ago
What kind of assisted living provider are you for tax purposes?
Ask Your Own Finance Question
Customer reply replied 2 years ago
Sole proprietor for profit
Financial Professional: Shawn P Adamo, CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions. replied 2 years 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.

Ask Your Own Finance Question
Financial Professional: Shawn P Adamo, CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions. replied 2 years ago
I will offer you a call to discuss this and how you can "possibly" not have to pay.
Ask Your Own Finance Question
Financial Professional: Shawn P Adamo, CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions. replied 2 years ago
In addition you have certain liability that you may want to distance yourself from.
Ask Your Own Finance Question
Financial Professional: Shawn P Adamo, CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions. replied 2 years 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.

Ask Your Own Finance Question
Financial Professional: Shawn P Adamo, CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions. replied 2 years 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.
Ask Your Own Finance Question
Was this answer helpful?
Ask Shawn P Adamo Your Own Question
Shawn P Adamo
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: 2,884
2,884 Satisfied Customers
Experience: CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions.

Shawn P Adamo is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Rakhi Vasavada

Rakhi Vasavada

Financial and Legal Consultant

2,608 satisfied customers

Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years

Megan C

Megan C

Certified Public Accountant (CPA)

2,218 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

Manal Elkhoshkhany

Manal Elkhoshkhany

Tutor

1,920 satisfied customers

More than 5000 online tutoring sessions.

JKCPA

JKCPA

CPA

844 satisfied customers

Bachelors degree and CPA with Accounting experience.

Eric

Eric

Financial Manager

559 satisfied customers

Loan servicing, counseling and real estate expert. Foreclosure Expert and Financial Planner.

R. Klein, EA

R. Klein, EA

Accountant

480 satisfied customers

TurboTax Expert. QuickBooks Certified Pro Advisor

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

332 satisfied customers

NASD Licensed Rep, 1997-2001, Business Attorney

< Previous | Next >

Related Finance Questions
I am working on my tax returns. I had a car accident on my
Hello!i am working on my tax returns. I had a car accident on my way to work last year. I was liable and had to pay for the loss of my car as well as for the other car. How can i declare this in my ta… read more
emc011075
emc011075
Senior Tax Specialist
Bachelor's Degree
16 satisfied customers
How are you? Tax deductions for an LLC that's sole business
Tax deductions for an LLC that's sole business purpose is to discuss the music industry. Deductions such as concert tickets, travel, meals. … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I am not sure I have the right agency to question Dot
I am not sure I have the right agency to question Green Dot prepaid Turbo Visa card. I am unable to access my Tax refund, I am on a merry-go-round with out the "merry" … read more
Barbara
Barbara
Enrolled Agent, Paralegal
5,119 satisfied customers
Well my husband and I just got smacked with a huge penalty
Hi, well my husband and I just got smacked with a huge penalty for the Obama care!!! I'm hearing many people saying the same thing. I don't think it's fair, we try to do the right thing, follow the ru… read more
Bryan M.
Bryan M.
Owner
Masters of Accountancy
122 satisfied customers
I'm picking up the deed to my house tomorrow. My father
I'm picking up the deed to my house tomorrow. My father passed away and it took some time to get everything in order. I need to give my sister 20k and I don't have that kind of money so I was reading … read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
2,205 satisfied customers
If there is only retirement income and a refund is due the
If there is only retirement income and a refund is due the taxpayer what is the final deadline for filing? … read more
TaxRobin
TaxRobin
Vocational, Technical or Trade School
1 satisfied customers
I have an accounting question, not tax related. My lawyer,
My lawyer, in calculating his fee for services, added his expenses to the settlement and then applied his percentage to calculate his fee. I pointed out that he is collecting his percentage on top of his expenses. I think his expenses should come ofrf the top and then his fee calculated. What do you think?? … read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
My wife is scheduled to start work next month at 40000. a
my wife is scheduled to start work next month at 40000. a year. her ssi check is 1175. a month. How will that affect her ssi check. her ss # is###-##-####… read more
Barbara
Barbara
Enrolled Agent, Paralegal
5,119 satisfied customers
What is the max contribution to a sep ira? would we
what is the max contribution to a sep ira? would we considered a business expense or be deducted from personal tax… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
I am an American shareholder in a private Canadian company.
I am an American shareholder in a private Canadian company. I am loaning capital to the company. If I took out a loan from my institutional bank to personally loan to the Canadian company, can I use t… read more
Carter McBride
Carter McBride
LLM
1,052 satisfied customers
First of all the company (partner owns not business partner)
First of all the company (partner owns not business partner) I work for considers me self-employed and my profession is Leasing Agent. I filed 2013 taxes, and I accidentally misunderstood the tax form… read more
PDtax
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
I am looking to build a chart of accounts for a restaurant
I am looking to build a chart of accounts for a restaurant that strictly delivers what would be needed for tax purposes. What accounts would be necessary to properly break out the expenses and revenue… read more
Carter McBride
Carter McBride
LLM
1,052 satisfied customers
Not sure if there really is a black and answer to this. I am
Hi, Not sure if there really is a black and white answer to this. I am currently considering closing on a $260,000 new construction home in Boulder City, Nevada. This area has been kind of booming as … read more
Barbara
Barbara
Enrolled Agent, Paralegal
5,119 satisfied customers
Chad! We spoke a few weeks ago but I have another finance
Hi, Chad!We spoke a few weeks ago but I have another finance question as it pertains to my divorce settlement. I'm trying to decide whether to keep a property or let him buy me out and just want to un… read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
2,205 satisfied customers
If parents buys (on paper) a house for a child - meaning the
If parents buys (on paper) a house for a child - meaning the parent is signing for the loan - and the house is owned by the parent - the child is not listed on loan or deed. The child pays the mortgag… read more
Barbara
Barbara
Enrolled Agent, Paralegal
5,119 satisfied customers
I own a staffing agency and I want to ensure I'm paying my
I own a staffing agency and I want to ensure I'm paying my employees properly with the new salary minimums. I believe 50k is the new minimum salary. If I pay recruiters commissions on top of base, can… read more
Mark Anderson
Mark Anderson
Attorney
Doctoral Degree
10 satisfied customers
I have $250K tax free funds to invest. This sum is currently
I have $250K tax free funds to invest. This sum is currently at a Wells Fargo bank. Where is the best place to move it for a time as I determine where to spread it on investments? Should I move it to … read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
2,205 satisfied customers
If you do not intend to address all my concerns do not
Please if you do not intend to address all my concerns do not answer & refund me. I have asked for advice on this same topic three times and get no real answer. Here is the question once more... "Firs… read more
PDtax
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x