While most people dread the time of year to file taxes, there could be big potential for most caregivers to benefit in tax deductions. There are resources that provide caregivers a better understanding of tax laws, and facilitate potential tax reimbursements that are available when supporting a loved one.
In fact, AgingCare.com lists the most overlooked tax deductions for caregivers:
- Medical expenses
- Home improvements
- Estate tax
- Charitable contributions – including any donations to the TRC.
Check out the rest of the top 10 overlooked tax deductions in Aging Care’s Tax Tips for Caregivers section, which provides several tips to assist you. You will discover information on how to claim a parent, medical expenses, and other great guidelines on what can be written off.
Also, please feel free to call our helpline at Tennessee Respite Coalition 1.888.579.3754 for more information on respite care.