When looking at tax tips for caregivers, it’s also important to consider what will happen if you’re paid to be a caregiver. This can occur, for example, if an insurance company pays you for the care of a spouse who was permanently disabled or injured in an accident.
The slow decline pattern of dying can happen over years. There may be periods of decline and then improvement but the overall decline is gradual and progresses slowly. When the person has a good day the family may wonder if they are getting better, and when the person is having a bad day, they wonder if death is near.For urgent matters, contact our Care Solutions Specialists who are available to help 24 hours a day, 7 a week.
Claiming someone you’re caring for as a dependent might reduce your taxes in another way as well — by allowing you to change your tax filing status from single to head of household. The head-of-household status could afford you greater deductions. For example, under the new tax reform law, the for heads of household is $6,000 more than the deduction for taxpayers filing single.By claiming the people you’re caring for as dependents, you could also make yourself eligible for other tax breaks.