Understanding Our Costs
At Cedar Cove, we understand the importance of finding both excellent and affordable care for seniors. Here, excellent and affordable care is not only possible, but happens every day. Read on to learn how you can minimize costs and maximize quality care by choosing a Baruch senior living community.
The Nonprofit Difference
As a nonprofit organization, we are able to offer more affordable costs to seniors, and we reinvest our earnings to maintain and renovate our communities. This equals a higher standard of care for more affordable prices.
At Cedar Cove we understand the importance of providing the comfort and assurance of knowing you are home. We believe that once a senior moves into one of our communities, they should never be asked to leave because of financial circumstances. Through our income-based program, we can provide residents reduced rent based on their individual monthly income. This program is completely confidential, allows a resident to remain in his/her same room, and ensures them the same level of care as all of our residents.
Tax Deductions for Residents
Many residents and families of residents do not realize that much of what is paid for assisted living is tax deductible to the resident (or a family member if the resident is a dependent). Such a statement is often a surprise to families considering assisted living services, and to many families already benefiting from such services. While we are not tax professionals, we have consolidated information about deducting assisted living expenses. This information comes from IRS documents and it has been reviewed by our CPA firm.*
*You should contact your tax adviser to determine the applicability to your situation.