Taxes Articles - AgingCare.com

Taxes Articles

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

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 (a revocable living trust) 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.

Hiring a professional caregiver who is not affiliated with a home care company can have a significant impact on your tax bill. Make sure you understand your role as a “household employer.”

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

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

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.

Avoid unnecessary stress by organizing your paperwork in advance and sorting out financial affairs with these helpful steps.

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

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.

The IRS deadline to file your 2017 taxes is April 17, 2018. Here are some tips from the IRS to make the filing process go smoother and get your tax refund faster.

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.

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.

Answers to tax questions and IRS forms: 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?

Find free tax help for seniors. Check out these free tax assistance programs for seniors.

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.

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.