Serving elderly clients.Aged clients have special needs that tax advisers should be prepared to serve. A recent column (see Schulman, Personal Financial Planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against , "Taxation of Older Adults," TTA TTA Telecommunications Technology Association (Korea) TTA Teacher Training Agency (UK) TTA Triangle Transit Authority (Raleigh/Chapel Hill/Durham, North Carolina, USA) , July 2003, p. 421) explored tax issues affecting older taxpayers. Mental Health Issues These taxpayers may also have mental health issues. A client who is displaying symptoms of extreme depression (or even dementia) may present special problems. A depressed client may be unable to think rationally about tax and financial issues; "do whatever you wish" is a common response. But the solution the tax adviser selects may not actually be what the client wants; in a depressed state, the client may simply cease to care. If the client is exhibiting signs of dementia, there is some question as to whether the time is right to transact tax or financial matters at all. Physical Health Issues A client's physical abilities are also important. Office choirs should be comfortable for the elderly; arm choirs aid in sitting and standing. Office lighting should be neither too dim nor too bright. How long is the walk from the parking lot (if any) to the consultation area? Does the client have hearing problems? Practitioner Knowledge In addition, a tax adviser should be well versed Versed® Midazolam Pharmacology A preoperative sedative in Medicare and Medicaid Medicare and Medicaid U.S. government programs in effect since 1966. Medicare covers most people 65 or older and those with long-term disabilities. Part A, a hospital insurance plan, also pays for home health visits and hospice care. issues. The AICPA's CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. ElderCare/PrimePlus Services are designed to help tax practitioners serve aged clients. Even if a tax adviser never intends to provide ElderCare/PrimePlus Services, the information included in the AICPA's five ElderCare eld·er·care n. Social and medical programs and facilities intended for the care and maintenance of the aged. continuing professional education (CPE (Customer Premises Equipment) Communications equipment that resides on the customer's premises. CPE - Customer Premises Equipment ) courses can help train practitioners as to elderly clients' particular needs and to adopt his or her practices and procedures accordingly. The five CPE courses are: * Developing an ElderCare Practice. * Practice Management and Development. * The Financial Issues of Aging. * The Legal Issues of Aging. * The Medical and Psychosocial Issues of Aging. Each of these, as well as CPA ElderCare: A Practitioner's Resource Guide, are available by calling (888) 777-7077 or by accessing the Personal Financial Planning product store at www.cpa2biz.com. For more information, contact Beth Kaestner at (201) 938-3378 or e-mail ElderCare/PrimePlus@aicpa.org. |
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