Tax Tips for Caregivers

It's tax time again and I decided to look around to see if I could find some articles to help answer some common caregiver questions about taxes. Below is a list of links I found with some great information.

2012 Tax Tips for Family Caregivers  - Up to date tax information for caregivers.

The 10 Most Overlooked Tax Deductions  - From mileage to artificial limbs, deductions your probably didn't know you could claim.  

Answers to Tax Questions Caregivers Ask Most

IRS - Tax Information for Caregivers - Straight from the IRS.  Questions like "My parent is suffering from dementia. As a result, I must cash his/her monthly social security check and use the proceeds for his/her care. What are the resulting tax consequences?" and "My parent signed his/her home over to me. Does this transaction have to be reported to the IRS?"

IRS - Family Caregivers and Self-Employment Tax - Answers to questions about caregiving and filing self-employment taxes.

Free Tax Preparation For Seniors - Links to a few nationwide agencies that offer free tax preparation for seniors.  

Bonus Tip:  Use our Expenses Form to keep track of expenses and make filing next year's taxes easier!  

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