I handle all of his financial and medical affairs, as he has Alzheimer's and Dementia. I am also his POA. Am I able to receive compensation for my time and services?

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As others has said, you need to see if the POA specifically allows for this. Payment would need to be reasonable and in line for your profession. So if your a CPA, you can bill dad just as you would for another client for the same service. But if you work low wage retail, you can’t “bill” professional rate.

To be blunt, most DPOAs do whatever needed for free and out of a sense of familial duty. Often for years & years.
If he’s in a facility, his daily living activities and medication management are being taken care of by the MC. His health care team is at the MC and outside docs need to coordinate directly with MC staff for health care. Personally - based on what we dealt with both for my mom & MiL in IL, AL & later NHs - I just don’t see how there is any degree of significant time on families part needed for an elders day to day once in LTC. Can you explain just what all you are doing medically that needs compensation?

His income, banking, investments & bills can be likely be done via direct deposit. Is this set up? If not, why not?
If he still continues to own his home and rents it, or owns rental properties, for that situation there might be “property management” stuff needed. If that’s what’s happening, I’d suggest you get estimates from a couple of management firms to see what thier fees structure is and then work with an elder law atty to drawn up an agreement with dad for property management. It’s all reportable & taxable income too. Personally imo if there’s a home and other properties, I’d hire a company to deal with stuff (repairs, maintenance, taxes) as just too many details and too many ways for this to go wrong.

Realize without an agreement done and taxes Paid, so everything all above board, it can look like you as POA are doing “self dealing” which is not in keeping with the required fiduciary duty of a POA.

if he should ever need LTC Medicaid, all $ to you without correct legal done and taxes paid, well, Medicaid will look at the $ as gifting and it keeps him ineligible for a penalty period. Medicaid will require 5 years of financials; stuff like this will surface; Medicaid will find out.
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What does the power of attorney document say? In general, people with powers of attorney can't make decisions on behalf the person that would enrich themselves.

I would read the paperwork and then ask the attorney who drew it up. I think ours says that our power of attorney is allowed be compensated for his time. (But that might be the executor of the will. I'll have to read it again!)
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He’s not on Medicaid?
if he’s not on Medicaid, then it will depend on what the POA document says. And/or state law. Normally you can reimburse reasonable expenses. Can’t take a salary unless the POA document stipulates it.
If he’s on Medicaid and they are paying the memory care then no, you can’t be paid.
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