If a family member is paid to care for a parent from the parent's fund does the person paid have to claim the amount on income tax? In other words a family member is being paid from the elderly person's funds.
What happens if your parent's resources run out before the long term care insurance does? What happens if an elder's resources run out before the long term care insurance?
Can an illiterate spouse be a patient representative for social security? Can a spouse who is unable to read or write in any language be a patients representative for social security?
Should I drop my mother’s supplemental insurance now that she is on hospice? Since mom is now on Hospice, should I drop her supplemental insurance?
Does the IRS waive penalties for the elderly that have forgotten to file their taxes? Mother was diagnosed with dementia and she never filed her taxes because she forgot.
Can my father claim what he pays his live-in caregiver as a deduction on his taxes? Can my 85 year old father claim what he pays for a live-in caregiver as a deduction on his taxes?
How do I arrange for my elder father to go into assisted living only on social security? How do I get my 87 year old dad out of my house and into assisted living?
Are aid and attendance benefits exempt from income tax? I am new to caregiving and was wondering if aid benefits for caregivers are exempt from income tax?
As Mom's POA I set up funeral trust to apply for Medicaid and it is gaining interest. Is this tax deductible income?
Are incontinence products a tax write-off? Are incontinence products a tax write-off?
Is mileage driven to care for elderly parent tax deductible?
My father is 91, lives alone but I do all shopping, provide all meals, take him to his doctors. Can I claim any expenses on my income tax?
Are long-term care insurance premiums refundable if the seniors dies without needing care? If a person dies and does not use their long-term care insurance, the premiums are not refundable.
What is inflation protection for long-term care insurance? Inflation protection on a long-term care insurance policy makes sure that your policy keeps up with the rising costs of home care, assisted living and nursing homes.
Who needs long-term care insurance? Everyone, regardless of age, should consider long-term care insurance to pay for the cost of home care, assisted living or nursing homes.
How should my mother's assets (savings, deed to house, etc) be set for minimum death taxes? How should my mother's assets (savings, deed to house, etc) be set for minimum death taxes?
Is assisted living considered a medical tax deduction? Is assisted living considered a medical tax deduction?
What is the age limit for buying long-term care insurance? The age limit for buying long-term care insurance is usually 84 years old.
Should dad get a reverse mortgage, or should we give him a personal loan? Whether your elderly parent should get a reverse mortgage or a personal loan from family depends on the situation.
Can a person with Alzheimer's get life insurance? Life insurance coverage is not typically offered for elderly who have been diagnosed before they turned age 75.
How can I find a financial advisor for my elderly parent in my local area? The "key" research you need to do is be sure is that the financial advisor you find is qualified to practice in your local area and has no outstanding violations against them, for the safety of your elderly parent.
Is dad entitled to a tax deduction every year for his disability? If the situation remains the same as the previous tax filing year, it would be safe to assume the deduction for this year would still be available.
Do joint savings bonds count as income for Medicaid eligibility? If the bonds are jointly owned, 50% belongs to the individual applying for assistance and that is what is counted and looked at by Medicaid.
How do I prove on my taxes that I provided care for my mother, so that I can claim her as a dependent? In order to prove you provided care, you will need to determine her income and the expenses you paid in 2009.
If your elderly parent is disabled do they receive a tax deduction every year? If your parent meets the requirements of the Federal Schedule R, Credit For the Elderly & Disabled, then they might be allowed to take the credit on their taxes.