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Thread: FYI taxes

  1. #1

    FYI taxes

    Tax tips for family caregivers


    Did you know that as a family caregiver, you may be entitled to deductions or credits that can help take some of the sting out of tax season? Here are some things to think about to maximize your deductions.

    Medical Expenses Deductions for this to qualify as a medical expense you must have spent money to alleviate or prevent a physical or mental defect or illness which can include medical insurance premiums (unless pre-tax); prescription medicines; doctor bills; hospital fees; travel to and from medical appointments at 18 cents/mile.

    Special Expenses you can claim oxygen and the equipment; special schools or homes; artificial limbs; false teeth; eyeglasses; wheelchairs and repairs; crutches; guide dogs; etc.

    Nursing home care only the medical expenses incurred in a nursing home.

    Nursing, Therapeutic, and/or aide services

    For more tax tip information please visit http://thefamilycaregiver.org/caregi..._newsleter.cfm and click on the Winter 2007 Take Care newsletter.

    [WRIGHTSLAW] 2006 Tax Benefits for Parents; Getting Records in Order; Planning for the Future -

    Special Ed Advocate from Wrightslaw (02/05/07)

    Download the printer-friendly version of this issue: http://www.wrightslaw.com/nltr/07/nl.0205.htm

    Our mission is to help you gain the knowledge and skills you need to meet the varied and diverse needs of children with disabilities.
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  2. #2
    Thanks Liz, I appreciate the info. I have a question however.
    There are alot of expenses that were not covered by insurance that we had to pay, but we paid them out of a trust that we set up for our son and used the money that we raised through fundraising events. Our these expenses still tax deductable? This will be our first year filing taxes since our sons accident was only a year ago on the 17th.
    Thanks for any help you can give us.

  3. #3
    You may want to think about getting a tax accountant to do your taxes.

  4. #4
    Senior Member zillazangel's Avatar
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    ddjdiver, it depends on how the trust is administrated, if you are given the money and then you pay it out, I believe you can deduct it - because you have to pay taxes yourself on the money that is given to you from the fund. But if the fund directly pays the expense, then I think not. BUT, I am not sure. Find a good accountant. Our acct is only $540 (last year) do to our very complicated taxes, and he was awesome at sniffing out all of the disability related deductions and so forth.
    Wife of Chad (C4/5 since 1988), mom of a great teenager

  5. #5
    sorry I'm just a messenger and know zip @ taxes, otherwise, I'd be basking in the Caymans
    Get involved in politics as if your life depended on it, because it does. -- Justin Dart

    I shall not tolerate ignorance or hate speech on this site.

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