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

5 min

Are assisted living care expenses tax-deductible?

According to the IRS, certain long-term care expenses may qualify as medical deductions, offering significant tax relief. Understanding the specific rules is crucial for families seeking to offset the high costs of senior housing. Let's explore the conditions under which assisted living care expenses can be tax-deductible.

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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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3 min

Is Assisted Living Considered Medical? Understanding the Care and Costs

Over one million Americans currently reside in assisted living communities, making it a pivotal option in senior care, according to the National Center for Health Statistics. This raises an important question for families and residents alike: Is assisted living considered medical? The answer isn't as straightforward as you might think and has significant financial implications.

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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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3 min

What benefits do you get when you turn 70? Maximizing Your Senior Years

By age 70, waiting to claim Social Security can lead to the highest possible monthly payment due to delayed retirement credits [3]. Understanding exactly what benefits do you get when you turn 70 is crucial for maximizing your financial security and lifestyle in your later years [2].

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