Aging Parents: Don’t Miss Out on Tax Credits for Caregivers & the Elderly–Next Year!

I’m guessing we’re all relieved after readying and submitting our taxes. Yet I think it’s timely to feature this article which is well-researched, with informative links. While April 15 has indeed passed, some tax payers get extensions and can still benefit. Others can do as Marti suggests: save (and round up unsaved) expense documentation for 2015 tax returns next year. You will learn (or have reinforced) what merits saving in the article below.

Who takes care of the caregiver? It usually must be us. By making certain all reimbursable caregiving expenses are included on our income tax returns, we make a start. Additional money (saved through resulting tax credits) can give us a little wiggle room and that, in turn, can relieve some stress or enable us to give ourselves a well-deserved treat..

Dakota Home Care

accounting series- confusing tax formsToday being Tax Day, it’s probably too late for you to claim additional tax credits for certain expenses related to being a family caregiver during 2014, but it’s the perfect time to start collecting records that will prove the caregiving expenses you’ve incurred in 2015!

When Beverly drew my attention to three ND House Bills related to caregiving and the elderly, a big question mark lit up in my brain: “Was I aware of ALL the expenses I could have claimed, on both my aging father’s taxes, which I do for him, and possibly on my own tax return? Even though he doesn’t live with me, I drive him to a lot of Dr. appointments, and I oversee his care at an assisted living center that doesn’t give him quite as much assistance as he requires. I hadn’t given a thought to my out-of-pocket expenses related to being a family…

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