Tuesday, March 1, 2011

Can an elderly person deduct the cost of in home care from income taxes?

My father, who is 86 years old, living with my sister. She is with her job as a nurse and home care to be near him. It requires the preparation of a moderate level of care such as meals, assistance with walking, getting in and out of the tub, etc. My question is. When my father was to pay my sister a month's salary for his services, he would be able to deduct those costs from their taxes? If your dad pays my sister expenses they can deduct their expenses. To find a CPA, because I think she can claim him as dependent and the head of the household, if it still works. He could deduct the cost of medical expenses is limited to 7.5% of his adjusted gross income. If his income is too low or too high load, it will not get the full benefit of the trigger. Her sister had also declare the payments as income when they return. You can use it as the sister of a dependent claim, on the supply of more than 50% of its funding (money). She could be the head of the family when she is not married. Dependsif any necessary medical treatment he home.maybe. If he pays his monthly salary should be treated like any other employer and pay tax, ss, and Medicare. Then, you have to claim as income .

0 comments:

Post a Comment