Should I be paid for my helping my mom stay in independent living for tax purposes? - AgingCare.com

Should I be paid for my helping my mom stay in independent living for tax purposes?

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My mom is in independent living but not really independent. I pay her bills. Manage her rental property, do her laundry, and clean up messes when she doesn't get to the bathroom on time. A part time care giver helps her shower. I'm concerned that the rental income from her home that has just recently been rented will cause her to have a high tax bill would paying me for my services off set that bill?

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My mom lives in her own home with private pay care, paid for with her IRA/401K savings withdrawals which never had been taxed. All of her home expenses and health care expenses off-set any taxes that she owed. I don’t know how it works with rental income. A CPA & my brother handled all the tax stuff, so that’s all I know.
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Reply to mollymoose
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tapgurl, this is something you would need to check with a CPA or Tax Accountant about Mom paying you. If yes, then you would need to draw up an employment contract with Mom saying how many hours you would work, the hourly rate, who would be paying the payroll taxes, and your job assignments.

And the CPA or Tax Accountant would know if there were any major changes to investment property expenses made by the new Tax Reform. What is still allowed and what is no longer allowed as expenses.
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Reply to freqflyer
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