Visit cpajournal.com to read the very latest from The CPA Journal
May 2017 » TFA | Financial, Legal, and Tax...
Full articles of The CPA Journal are available to NYSSCPA members and CPAJ subscribers ONLY. Please login to access this content.
Nonmembers and nonsubscribers, you can apply for NYSSCPA Membership here and get unlimited access to The CPA Journal, or you can create a non-member online account here and purchase individual articles.
Sidney Kess, JD, LLM, CPA, James R. Grimaldi, CPA, and James A.J. Revels, CPA
The high costs of long-term care affect an increasing number of individuals and their families. According to Genworth's 2016 Cost of Care Survey (http://bit.ly/2ngymTT), the average annual cost of an assisted living facility, which provides personal care and health services, was $43,536. The average cost of a semiprivate room in a nursing home, which provides a higher level of supervision and care than an assisted living facility, was $82,125; $92,345 for a private room. The U.S. Department of Health and Human Services has projected that the number of individuals requiring paid long-term care services in 2050 will be double the number in 2000 (“The Future Supply of Long-Term Care Workers in Relation to the Aging Baby Boom Generation,” May 14, 2003, http://bit.ly/2oNfPLV). How can individuals and their families address the high cost of long-term care? This article considers some of the common financial, legal, and tax concerns. This is not meant to be a complete discussion of all issues, but rather an introduction to the many issues that need to be addressed.
Advertising with the NYCPA is your opportunity to reach the greatest number of business advisors in the most important business state in the nation.
Post a resume or job listing in our Career Center to connect with hundreds of employers or job seekers.
Join 21,000+ of your peers. Apply for membership today!
Find CPE Conferences, Seminars, and Online Courses Here.
Get insight and analysis into all areas of the profession.
Content provided by and exclusively for NYCPA members.
Stay up to date with important NYCPA news.
A daily roundup of the latest from around the accounting and financial industry.
A strong PAC means a strong profession. Donate Today.
Help develop a strong network of connections.
A resource for NYCPA Members.
Members, Get expert answers to technical questions.
Start your career off right with an experienced mentor.
It's never too early to start thinking about your career.