Some people are blessed with the opportunity to share some of their accumulated wealth with younger family members. Unfortunately, Uncle Sam always has his greedy little hands out to spoil the enjoyment. Fortunately, the rules have become much more liberal and easier with which to comply.
Whether you manage the care of an elderly family member or obtain professional in-home care, there are some tax benefits for doing so. The IRS has different options for your consideration and, of course, there are certain requirements that must be met.
The only way many people can stay in their homes rather than an institution like a nursing home or similar retirement community is to retain the assistance of a homecare agency. Doing so ensures that older adults who need support can stay in the comfort of their own homes as long as it is practical. Continue reading “Bonding with Your Homecare Provider”