Tax Season is Upon Us!

[Jen]

As a family caregiver, you went into the job knowing it would take much of your time. You may not have expected it to take quite so much of your money. Some 42 percent of family caregivers spend more than $5,000 on unreimbursed care for loved ones. Fortunately, there is some light at the end of the tax year: deductions and credits.

Read our latest article on tax tips for caregivers: HERE

What are some things that we missed? Do you have tax tips of your own you can share? 

[JaneCares]

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@Jen wrote:

As a family caregiver, you went into the job knowing it would take much of your time. You may not have expected it to take quite so much of your money. Some 42 percent of family caregivers spend more than $5,000 on unreimbursed care for loved ones. Fortunately, there is some light at the end of the tax year: deductions and credits.

Read our latest article on tax tips for caregivers: HERE

What are some things that we missed? Do you have tax tips of your own you can share? 

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This is so important, Jen, thank you for pointing out these resources. In my own life, i have an attorney and a CPA who helps me with financial and tax stuff, and planning, because i can't figure out much of it on my own. What i tell folks in my social work is that knowing what you have as assets and as choices in your role as caregiver, or/and in your role as care RECIPIENT, will help you know what your options are. And sometimes it's totally worth the money to talk to a professional, an accountant, an elder law attorney, at the very least a social worker who is familiar with the eligibility rules and options for families and caregivers. What can you deduct? There are so many questions.

I'm grateful AARP is helping caregivers with this stuff. It's all too complicated, and money is too important.

Jane