Articles related to focusing on healthy aging, prevention, mobility, cognition, nutrition, independence, and caregiving support.
Canadians spend millions on assisted living each year, and a portion of these costs may be tax-deductible. Knowing if and how you can claim assisted living expenses on taxes in Canada is crucial for financial planning and can provide significant relief for families.
According to the Alzheimer's Association, the total lifetime cost of care for someone with dementia can be hundreds of thousands of dollars, making understanding **how much does it cost to care for someone with dementia** a critical financial concern for many families. The financial implications extend beyond direct medical expenses, encompassing various levels of care and out-of-pocket costs.
With the average annual cost of a semi-private room in a nursing home exceeding $100,000, many families face significant financial strain. A common question for families is: **Are senior care costs tax deductible?** The answer depends on specific IRS rules, and this guide will help you understand the nuances of claiming these valuable tax benefits.
