Senior Tax Tips

  • Estate Tax Q and A for Family Caregivers

    Taxes are an important element to consider when engaging in estate planning. Discover the answers to 5 key estate tax questions.

  • Start Here Every Year: Essential Tax Steps for Caregivers

    As a caregiver, you may need to help your loved one organize their financial documents and prepare and file their taxes. Avoid unnecessary stress by getting this paperwork in order before tax time hits.

  • Tax Tips for Caregivers

    Here are some tips from the IRS to make the filing process go smoother and get your tax refund faster.

  • Answers to Tax Questions Caregivers Ask Most

    Answers to tax questions caregivers ask most: Can I claim my parent as a dependent? Can I claim medical expenses? Do I pay taxes on money my parents give to offset expenses?

  • Free Tax Help for Seniors

    Retirement, government benefits, increasing health care costs and other financial changes can make filing income taxes especially complicated for seniors. Find free tax preparation services and tax counseling near you.

  • Can I Claim My Elderly Loved One as a Dependent on My Taxes?

    Family caregivers contribute both their time and money to help support those they love. To claim an aging relative as your dependent, there are basic criteria that you, the taxpayer, must meet and criteria that your potential dependent must meet.

  • Coronavirus Stimulus Checks: What Seniors and Caregivers Need to Know

    Millions of Americans are set to receive economic impact payments from the government. Learn about eligibility requirements, amounts and how to submit updated information to ensure older Americans get their coronavirus stimulus checks.

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  • Inheriting an IRA Can Be Taxing

    Inheriting an Individual Retirement Account (IRA) has certain tax implications. Understand your options to avoid costly mistakes.

  • Capital Gains Tax and Estate Planning

    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.

  • Mom put her home in a family trust. Do we have to pay capital gains tax once the house sells?

    Your liability for capital gains tax depends on the terms of the trust. Now is the time to find out how the trust was written before you decide what to do with the property.

  • Tax Implications of Hiring an Independent Caregiver

    Hiring an in-home caregiver who is not affiliated with an agency can have a significant impact on the taxes you owe. Make sure you understand your role as a “household employer” before hiring an independent caregiver.

  • Tax Rules for Social Security Benefits

    The money a Social Security beneficiary receives could affects their taxes. Discover the current base amounts and tax rates for each filing status and determine if your benefits are considered taxable income.

  • Death and Taxes: The Tax Effects of an Elder’s Passing

    Learn the basics of filing a final tax return for a recently deceased loved one.

  • IRS Warns of Tax Scam Targeting the Elderly

    The IRS is warning the elderly about tax scams that are targeting seniors. Some seniors are paying swindlers money to file returns for them in the hopes of claiming benefits that they don't actually qualify for.

  • What Caregivers Need to Know About the Dependent Care Credit

    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.

  • The 9 Most Overlooked Tax Deductions

    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.

  • What Medical Expenses Can Be Written off on Taxes?

    In addition to hands-on care, family caregivers often contribute financially to their loved ones’ well-being. If you can claim your care recipient as a dependent, you may be able to write off some of their health care costs and reduce your tax bill, too.

  • 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.

  • Gift Tax Q and A for Family Caregivers

    Will you owe a gift tax this year? Use this Q&A to determine if the “gifts” you have received are considered taxable revenue.

  • Important Paperwork: What to Keep and for How Long

    We retain health records, financial statements and tax documents just in case we need them, but this can be overwhelming for caregivers who store their loved ones’ files, too. Use these tips to organize what you should keep and purge what you shouldn’t.

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