In our last article we provided some ways in which you can make medical bills, nursing home care, and special needs or age related home additions and modifications work for you to save money on taxes.Here are some more ideas for tax deductions, including alternative medicine, and services for special needs care. We shall explore timing your expenses for maximum deductions as well as other entities like a special needs trust.
Are you ready for tax season? Learn about some tax tips that could put more money in your pocket! Besides the relatively familiar expenses of doctors, dentists and prescription medicines, here are some other costs that you can deduct. Part 1 in a 2 part series.
Children are always concerned with their elderly parents, whether it is with their health, happiness, or their financial situation. Read more to learn about ways to identify and resolved issues with elderly parents and their financial situation.
Sometimes getting older means living on a fixed budget due to having less income and having higher medical bills, mortgages, and care giving needs. For this reason, seniors look for more ways to save money. Here are some discounts and that you may not be aware of.
The biggest tax reform in twenty years was passed on Dec 22, 2017 known as the Tax Cuts and Jobs Act (TCJA). It makes fundamental changes in the way families and businesses calculate their federal income tax bills, and most individual provisions stay in effect from 2018 through 2025. Learn more…
Many of us find that a good portion of mail includes appeals from charities for financial help—whether it be to find a cure for a serious illness, help people who just need a hot meal, or to support our service men and women. All of these causes are important, but it can sometimes be difficult to determine legitimate charitable organizations from scams. Learn more about some common scams that you can easily avoid.
If you become unable to manage your assets due to health reasons, you can voluntarily resign or be removed as trustee by a doctor’s note. Who can you lean on to help you?
Fixed income budgeting is an important practice for many seniors. Budgeting for retirees means being creative in finding ways to cut down and still enjoy plenty of fun.
Keep your wits about you to spot phone scams targeting seniors. Avoiding phone scams is easier when you know about them, so read our latest blog post to educate yourself.