Deductible Medical Expenses
If you’re like most Americans, you dread tax season with the same dread you reserve going to your regular dentist appointments. However, it’s something that everyone has to do, so it’s best to be prepared to get them done to the best of your ability. However, there’s something you should know before you file your taxes this time around. Did you know you could be eligible to deduct your non-medical senior care expenses from your taxes if they go over 10% of your gross income? No? Well, now that you know, feel free to speak with your tax professional to determine your exact eligibility. As you should know, there are plenty of details you should work out with your CPA before you deduct these expenses.
Don’t Overpay if You Don’t Need To!
Across the United States, it’s estimated by GAO that around 2.2 million Americans are overpaying on their taxes every single year. How crazy is that? Those Americans – you, included – could be saving tons of money during tax season if they simply looked for more expenses to deduct on their taxes. If you’re one of these Americans, who are overpaying on their taxes, make sure to reach out to a tax professional to discuss how you can deduct your senior’s expenses for senior care in Temecula from your taxes.
Imagine how much money you could be saving in your pocket. Senior care can get pretty expensive and put a strain on your bank account, no matter how necessary it is for the health of your senior. That’s why we want to clue you in on these potential deductions and advise you to consult with your CPA as soon as possible. This is going to help you tons in the future!
At Always Best Care, we don’t just care about the seniors in our care. Of course, they are our top priority, but we also care about the families, who are providing the financial backing for that care. We want to point you in the right direction, so you can save as much money to pay for other necessities. That’s why we’re telling you about these tax deductions, so you can schedule an appointment with your tax professional or CPA to learn more about your eligibility.