Tax Tips for Caregivers

Updated for the 2013 tax year. Helping caregivers understand tax laws and take advantage of the tax benefits that are available when supporting an elderly parent.

Taxes and Caregivers: The Basics

Time to Learn about Medicare Open Enrollment

2013 Tax Tips for Family Caregivers
Caregivers are often eligible for some tax deductions. Don’t short-change yourself! Know the tax rules for family caregivers.

The 10 Most Overlooked Tax Deductions
See if you can get a break on your taxes, with these 10 tax deductions that caregivers often don't know about.

Answers to Tax Questions Caregivers Ask Most
Frequently asked tax questions for family caregivers, listed by the IRS on its website.

5 Things to Do Before Dec. 31 to Reap Tax Benefits
Here are some steps you can take before the end of the year to lower your 2012 tax bill.

Can You Use An FSA for Your Parent’s Medical Expenses?
As the end of the year looms, look at your flexible spending account (FSA) to see how much money remains. In many cases, you need to spend FSA funds by year-end -- or you lose them.

Claim a Parent As A Dependent on Your Taxes

Medicare Open Enrollment Choices

Can I Claim My Elderly Parent as a Dependent?
Caregivers might be able to claim their parent as a dependent, and save money on taxes – if you meet certain criteria.

What Caregivers Need to Know About the Dependent Care Credit
Once you have determined whether you have met the IRS' criteria to claim your parent as a dependent, you can use the dependent care credit for a deduction on your taxes.

Estate Taxes and Gifting

Prepare for Medicare Open Enrollment 2012

An Overview of Estate Taxes
The estates of every U.S. citizen are subject to the federal estate tax, but not every estate actually has to pay the tax. Find out why.

An Overview of the Gift Tax
The gift tax is perhaps the most misunderstood of all taxes. What is the gift tax? How much can someone gift without taxes being paid? And who is responsible for paying taxes on gifts?

Expenses: Medical, Health & Housing

Medicare Fraud and Scams

What Medical Expenses Can Be Written Off on Taxes?
Dentures to wheelchairs: What can and can't be written off? Here’s a list of medical expenses that can be claimed as deductions.

How Does Living in Assisted Living or Nursing Home Affect Taxes?
If an elder lives in a senior living facility, taxes are only affected if they have given up ownership rights to their home.

Financial Assistance and Financial Planning

Medicare Fraud and Scams

"How Can I Get Paid for Taking Care of My Elderly Parents?"
There is some financial assistance out there, if you know where to look.

10 Government Programs You Can Access for Your Elderly Parents
Financial aid for caregivers. Government programs are available to help caregivers with elder care.

Financial Planning Tips for Caregivers
Its important that caregivers take time to plan for their own financial future.

How to Find a Good Financial Advisor
Just about anyone can call themselves a financial advisor. Here are some tips for finding a competent and experienced one for your family.

Resources

Medicare Fraud and Scams

Free Tax Help for Seniors
Check out these free tax assistance programs for seniors.

Recent Questions

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