Holidays Interrupted: Things to Do Before Year-End to Lower Taxes
NAPLES, FL -- Holiday season is in full swing. Busy with gift-buying, party-planning and cookie baking, the last thing most people want to think about is taxes. But, spending a little time before the year ends to squeeze in some tax-saving strategies could result in an extra gift in 2012: savings on your taxes.
AgingCare.com, a website for caregivers who are taking care of elderly parents, has launched "Tax Tips for Caregivers" a special section of the website that provides tips that caregivers can implement now, to save money on their taxes come April.
The AgingCare special tax section has information on:
5 Things to Do Before Dec. 31 to Reap Tax Benefits
Last-minute deductions and steps caregivers can take before the New Year countdown begins.
Flexible Spending Account: Use It or Lose It
Flexible spending accounts (FSA) often expire at the end of the year. Caregivers may be able to use the remaining funds to pay for elderly parent's medical expenses and supplies – but the time to act is now.
Medical Expenses: Buy Now, Save Later
Medical expenses can often be written off for tax purposes. If an elderly loved one needs a new hearing aid, or is due to visit the doctor, taking care of these expenses now could save money on taxes later. AgingCare.com has a list of medical expenses that can be claimed as deductions.
AgingCare.com is a leading website that connects people caring for elderly parents to other caregivers, personalized information, and local resources. AgingCare.com has become the trusted resource for exchanging ideas, sharing conversations and finding credible information for those seeking elder care solutions.