Tax Info Every Family Caregiver Should Know

By Raz Silberman, 9:00 am on

The first day you can file your taxes in 2017 is January 23rd. Be aware the Internal Revenue Service will not be issuing most refunds before the end of February this year due to increased security measures. Here are a few of the essential tax details you should be aware of if you provide Plano senior home care for an aging loved one.

Dependent Claims

If you have paid out at least 50 percent of your senior loved one’s living expenses in 2016, you may be able to claim him or her as a dependent. Your loved one must not file jointly with another person and cannot have enough income to adequately care for him or herself.

Medical Travel

If your loved one’s medical travel expenses exceed 7.5 percent of your adjusted gross income, they may be deductible. They must be deducted in the year they occurred. You will need to itemize to claim this deduction.

Medical Home Improvements

If you made major changes to your loved one’s home to help him or her medically in 2016, you may be able to deduct the cost of these changes. You will need to itemize your return. The cost must exceed 10 percent of your adjusted gross income. In some cases, you may even be able to deduct the cost of keeping up items at home. 

Home Care

If you paid a professional Plano home caregiver to care for your senior, that money may be deductible. It must have been approved by a doctor. Alternatively, if someone else pays you to take care of his or her elderly loved one, you must claim that as income. 

Durable Medical Products

Family caregivers who itemize can often deduct the cost of many medical items from their taxes. These items might include wheelchairs, canes, and crutches. 

Though it may be tempting to file the short income tax form, most family caregivers have enough deductions they can take that using the long form makes more sense. 

Much like doing your taxes without professional help, caring for an elderly loved one on your own can be challenging. At Home Care Assistance, we provide professional caregivers who are available around the clock to help your loved one maintain a high quality of life. We also offer comprehensive Alzheimer’s, stroke, and Parkinson’s care. Plano families rely on our caregivers to provide a wide variety of in-home care services for seniors, including assistance with exercise, meal preparation, and help with bathing and grooming. Call (214) 586-0120 today to speak with one of our knowledgeable Care Managers and schedule a free in-home consultation.