Tax Tips for Caregivers Articles
Capital gains taxes play an important role in careful estate planning and the probate process. Knowing the specific rules for these taxes and any potential changes to them will help you and your family plan effectively.
If the trust was revocable and intended simply as a way to avoid probate, your attorney and accountant will tell you that she still owned the real estate at death, so there will be a “step up in basis” for you and the other beneficiaries.
Avoid unnecessary stress by organizing your paperwork in advance and sorting out financial affairs with these helpful steps.
Don’t miss out on the opportunity to reduce what you owe Uncle Sam this tax season. Learn the criteria that must be met and how to claim the dependent care credit.
Could you use a break on your taxes? You might be surprised by all of the deductions you're entitled to as a family caregiver.
Frequently asked tax questions for family caregivers, listed by the IRS on its website.
Dependency is the basis for many different tax credits and deductions for caregivers. If you and your loved one meet these IRS conditions, you may be entitled to an exemption.
Family caregivers often share the burden when it comes to their loved ones' medical expenses. If you can claim your care recipient as a dependent on your taxes, you may be able to write off some of their health care costs, too.