Tips to Stay Organized for Tax Season
Are you a new caregiver? Did you know that you can claim your parents as dependents when you file your taxes? Tax season is stressful enough without having to worry about how to file your taxes for your parents. Here at Senior Caring, we have all of the resources to help make this process easier for you, so sit back and relax with these tips to stay organized for tax season. 5 Tips to Stay Organized for Tax Season 1: Create a System...
A Guide for Caregiver Tax Deductions
Being a family caregiver and doing taxes can both be stressful tasks, let alone having to do them at the same time. As a caregiver, you might have been procrastinating because you just aren’t sure what claims and deductions you can make. If you already filed your taxes, this guide to caregiver tax deductions can still be helpful for future tax seasons. Even after searching for tax tips, many caregivers don’t realize how many breaks...
Claiming Your Parent as a Dependent
As caregivers, a lot of effort in donating time and money is put forth in caring for loved ones. With all the tax tips out there to follow, it may be hard to figure out what works best for you and your family. One benefit, however, could be claiming your parent as a dependent. But to claim anyone as a dependent, those in question must meet specific IRS criteria. According to the IRS, a dependent is your qualifying child or qualifying...
6 Tax Tips For Caregivers
Transitioning from loved one to a caregiver can be a stressful and often financially difficult task to take on. Luckily, there are numerous ways to save money when you claim your loved one on your tax return. If you’re the primary caregiver, your senior now becomes a dependent meaning that they depend on you to live comfortably. Since they’re dependent on you, the government will give you tax breaks and other benefits to make your...
