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Articles related to focusing on healthy aging, prevention, mobility, cognition, nutrition, independence, and caregiving support.

4 min

What is the tax deduction for elderly parents living with you?

According to the AARP, family caregivers spend an average of about $7,200 per year on out-of-pocket costs for dependents. This financial strain can be eased by understanding and leveraging tax benefits. This article explains exactly what is the tax deduction for elderly parents living with you, outlining the key credits and deductions available for caregivers.

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5 min

Is Paying for Elderly Care Tax Deductible? Understanding the Rules

According to the National Council on Aging, over 70% of seniors will need some form of long-term care, posing significant financial challenges for families. A common question arises: is paying for elderly care tax deductible? Understanding the specific IRS rules can lead to substantial savings, converting a financial burden into a potential tax advantage.

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5 min

What is the elder care tax deduction?

According to AARP, family caregivers spend an average of over $7,200 out-of-pocket annually on caregiving-related expenses. Understanding what is the elder care tax deduction is key to reducing this financial burden and ensuring you receive the tax relief you deserve.

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4 min

What is the difference between a 1099 and a W-2 caregiver?

According to the National Council on Aging, nearly 58 million Americans are 65 and older. For those needing in-home assistance, understanding **what is the difference between a 1099 and a W-2 caregiver** is crucial for legal compliance, tax obligations, and ensuring quality care.

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3 min

Do I need to issue a 1099 to my nanny? Here’s what the IRS says.

Fact: The IRS classifies most nannies and in-home caregivers as household employees, not independent contractors. This means the answer to the question, "Do I need to issue a 1099 to my nanny?" is almost always no, a critical distinction for tax compliance.

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4 min

Does Assisted Living Count as Rent? A Comprehensive Guide

According to the National Center for Assisted Living, the average annual cost of assisted living can exceed $60,000, making it one of the most significant expenses in later life. This raises an important financial question for many families: **Does assisted living count as rent**? The classification of these payments can have major implications for financial planning and tax deductions.

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4 min

Who is eligible for senior bonus in 2025?

In a significant tax change for older adults, the U.S. government introduced a new federal tax deduction in 2025, unofficially dubbed the “senior bonus.” This new provision offers substantial tax relief, but many wonder who is eligible for the senior bonus in 2025 and how to claim it.

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