Healthcare Tax Services

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How We Help

Healthcare Providers

At Polston Tax, we have experience providing tax and accounting support to businesses and individuals at various ends of the healthcare industry. Through our personalized services, we can tailor a solution for your financial needs.

Healthcare organizations focus primarily on patient care. However, numerous business obligations require expertise and capital investment. Polston Tax helps healthcare organizations manage bookkeeping, accounting, tax planning and tax resolution needs. 

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Tax Credits to Look for in Healthcare

As a healthcare provider or another business in the healthcare industry, you may qualify for various credits that reduce the amount you pay in taxes. State and federal reductions may apply depending on your work. The Polston Tax team can identify applicable opportunities. 

As a healthcare provider, you may benefit from federal incentives such as the New Markets Tax Credit. The Community Health Center Capital Fund manages several of these benefits to support the growth and development of community health centers for low-income and uninsured populations. If you operate a small practice, you may earn a reduction for offering health care to your employees. 

Healthcare companies involved in research and development may qualify for a federal tax credit for increasing research activities. This incentive may come in the form of a new drug development, clinical trial or medical device research credit. While many types of businesses can qualify, healthcare is common since it deals with hard sciences. 

The orphan drug credit incentivizes pharmaceutical companies to develop treatments for rare diseases. This therapeutic discovery credit encourages treatments for underserved patients.

A few additional state-specific reductions may apply:

  • Serving low-income populations or Medicaid patients
  • Operating a healthcare facility in a rural or medically underserved area
  • Conducting medical research in particular states

Our Services for the Healthcare Industry

We offer a broad range of tax and accounting solutions for the healthcare sector.

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Dynamic Healthcare Tax Resolution 

Our tax attorneys and consultants help healthcare industry clients navigate tax disputes through services such as: 

Our combination of accounting and healthcare industry expertise allows us to help clients maintain accurate financial records that support effective business planning. We will work with you to determine the optimal accounting strategy for your healthcare organization and enact it in alignment with generally accepted accounting principles (GAAP). 

Our accountants for healthcare professionals can resolve numerous industry-specific challenges that medical practices face in revenue recognition, billing and reporting. You can trust us for support in complying with the Health Insurance Portability and Accountability Act (HIPAA), the Stark Law, the Anti-Kickback Statute and other relevant guidelines. 

Our certified public accountants (CPAs) develop efficient tax strategies for healthcare organizations. We can analyze your business to identify obligations and deduction opportunities. Our services help tax-exempt healthcare organizations maintain their status and implement practices that withstand Internal Revenue Service (IRS) scrutiny. 

Polston Tax CPAs serve therapists, doctors and other individuals working in the healthcare industry. We can help any practitioner submit accurate tax returns on time. Our expertise enables us to develop unique solutions for full-time staff and healthcare professionals on contracts with providers. 

Polston Tax is a dependable tax resolution partner for individuals and businesses in the healthcare industry. We leverage acute tax law knowledge and extensive firsthand IRS negotiation experience to help healthcare clients resolve tax balances and mitigate penalties. 

We consult and represent practitioners and corporations across the healthcare industry and throughout our service areas. 

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Why Polston Tax?

For more than 20 years, Polston Tax has served healthcare organizations and practitioners in Oklahoma, Missouri, Kansas, Nevada and beyond. We have established ourselves as a leading tax and accounting firm for the healthcare industry through our: 

  • Comprehensive tax and accounting capabilities.
  • Personalized solutions approach.
  • Devout negotiation and representation.  
  • Remote tax assistance offerings.
  • Healthcare industry accounting and tax expertise.

Additional Readings

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