The Samurai Caregiver

Posts Tagged ‘tax savings for care givers

Caregivers & Taxes!
March 18, 2013
By CareNovate Team Contritbutor

Tax time is almost here, April 15th to be exact. As more adults and boomers take on caregiving responsibilities for their aging relatives, it’s important to plan ahead.
Below, we share some tax tips published recently by IRS, AARP & Bankrate that could help save family caregivers some money, stress and time. As always, always consult a tax adviser, CPA or accountant for information specific to your situation.
Family caregiver might benefit in 3 ways:
You might qualify for the Child and Dependent Care Credit.
You might be able to claim your loved one as a dependent, reducing your taxable income by $3,700.
You might qualify for a deduction for money you spent on your loved one’s medical expenses and care.
Other specifics:

Caregiver tax deductions IS NOT limited to just relatives. Non-relatives could also qualify but only if they are part of the caregiver’s household for the entire tax year.
KEEP ALL YOUR RECEIPTS because some dependent expenses that are deductible includes cost of: food, housing, medical care, clothing, transportation and even bathroom modifications all qualify for tax deductions.
The IRS allows caregivers to deduct the costs not covered by a health care plan for a relative’s hospitalization or for out-of-pocket costs for prescription drugs, dental care, copays, deductibles, ambulances, bandages, eyeglasses and certain long-term care services and more.
If a caregiver works but pays for care for a relative who can’t be left alone, those costs may also be tax-deductible.
Caregiver’s tax-free flex account may be used to cover expenses for both dependent and independent relatives — as long as you’re responsible for at least 50 percent of their support.
As always, always consult a tax adviser, CPA or accountant for information specific to your situation.

For more information & tips for caregivers, visit

IRS – For Caregivers

IRS – Caregivers & Medical Expenses Q&A

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Sybil L. Ingram, MBA, Ph.D.

Dr. Sybil Ingram is a respected and experienced professional in the areas of healthcare information systems and regulatory compliance issues with significant knowledge on INFOSEC, NIST, FISA, FISMA, CFR 210,211 & 820 as well as Lifespan Respite Care Act regulations. With over twenty years of healthcare experience, she has been one of the nation's foremost speakers and active consultants for the HIPAA implementation challenges, addressing all major aspects of the Administrative Simplification Subtitle and affected entities/stakeholders. Dr. Ingram has served as a clinician, clinical researcher and instructor, emergency preparedness and readiness specialist as well as serving as an independent validation and verification compliance manager for multiple national providers of healthcare services. She has held key positions for healthcare industry leaders such as HBOC/McKesson, Johnson & Johnson, Abbott Labs, the Georgia Technology Authority and the Centers for Disease Prevention and Control (CDC). In addition, Dr. Ingram is nationally board certified by the American Society of Clinical Pathologists, a former associate with the American College of Healthcare Executives, founder of Ingram And Associates, a certified INFOSEC professional by the Information Security And Audit Control Association and the US National Security Agency. As a volunteer, she is an active senior Georgia state representative for the National Family Caregivers Association and has an inventor's patent (pending) registered with the U.S. Patent & Trademark Organization. Dr. Ingram speaks nationally and internationally on topics that address information privacy and security as well as family care giving issues.

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