Essential Tax Steps for Elder Caregivers

Essential Tax Steps for Elder Caregivers

Tax day is fast approaching! Often, an important part of caring for an aging loved one is helping to handle their finances. And, a big part of finances is tax preparation.

You may have a handle on your own finances, but the world of elder care has its own set of rules. Whether you’re questioning claiming your mother as a dependent, or determining if your father even needs to file a personal income tax return, this article from AgingCare can help you understand these distinctions.

It can also be helpful to consult with a seasoned tax professional to ensure you aren’t missing any potential deductions or that the IRS will accept a financial power of attorney (POA) document.

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2019-03-11T17:10:34+00:00