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We take the business out of healthcare

Every month seems to bring additional complexities to healthcare; new layers of paperwork, new regulations to learn, new policies to develop and implement. You can easily spend as much time caring for your practice as you do for the people who seek your professional help. Is this how you wanted to spend your career?

You care for the patients. We take care of everything else.

Grand Management Group is a closely knit team of financial and practice management specialists who focus on the day-to-day, month-to-month, and year-to-year policy and procedural aspects of your practice so that you can focus on patient care. We support you with efficient, personal service; relevant, reliable information; and effective, innovative solutions that keep pace with your changing needs and the requirements of a dynamic profession. We can help you manage financial priorities, enhance your practice management methods, and take full advantage of new opportunities. We offer accounting, tax, retirement, consulting and practice management services that are healthcare specific and seamlessly integrated.

Count on Grand Management Group to manage your practice
so you can practice medicine.

News & Notices

IRS Offers Relief to Taxpayers with Family HSAs

For 2018, taxpayers with family coverage under a high deductible health plan, or HDHP, can treat $6,900 as the maximum deductible contribution to their HSA.

A change in inflation adjustment calculations for 2018 under the new tax reform law, the Tax Cuts and Jobs Act, decreased the maximum deductible HSA contribution for taxpayers with family coverage under HDHP by $50, to $6,850.

Tax Scams

If you get a random e-mail from the IRS concerning a tax refund… delete it. It’s a scam. This e-mail tricks people into opening a link by saying incorrect information was detected on their tax return. This link then takes you to a fake page where scammers try and steal your personal information.

The IRS recently announced the 2018 contribution limits for Health Savings Plans. The maximum contribution for individuals is increasing from $3,400 to $3,450 for the coming year. Those with family coverage will be able to contribute $6,900 for 2018, which is up $150 from 2017's limit. For more information, please visit the following:

 

How Long Should I Keep Records?

The length of time you should keep a document depends on the action, expense, or event which the document records. Generally, you want to keep documents for a period of 7 years. Keep copies of your filed tax returns. They help with future tax returns and making computations if you file an amended return.

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