2010 Taxes: Start Preparing Now
You’ve probably just filed your taxes for 2009, but its not too early to start thinking about next year.
If you have a relative who is a resident of an assisted living facility or receives long-term care services at home, take note. They may be able to deduct those expenses from gross income on their tax return. If you provide a significant portion of that persons assisted living costs, you may be able to make those same deductions on your return.
The Health Insurance Portability and Accountability Act (HIPAA) of 1996 clarifies which expenses can be considered deductible. HIPAA requires individuals to meet certain criteria in order to take advantage of the medical expense tax deduction. Please contact your tax preparer for information about your specific situation …. and start saving your receipts.
If you need help caring for your loved one, please visit us at www.inhomecaresandiego.com.
By: Always Best Care Senior Services – San Diego California (CA)