Smart Spending

Tax Tips for Family Caregivers and Older Adults. You can read more useful articles and advice on our blog.

If you’re trying to figure out if you can claim a medical alert system on your taxes, the answer is: Probably. The only way to get a definitive answer is to consult with a tax professional like your accountant, tax attorney or financial advisor. That’s because IRS guidelines don’t expressly mention medical alert systems like Read more >>

Tax Preparation Tips for Seniors & Family Caregivers. You can read more useful articles and advice on our blog.

Wondering if it’s worth claiming medical expenses for equipment on your taxes? The answer is yes! Researching deductions for medical equipment used by yourself, your spouse or another person in your care is worth the effort because you may be able to reduce your tax bill. The IRS allows taxpayers who itemize to potentially deduct Read more >>

Tax Breaks for Family Caregivers: Deductions and Credits. You can read more useful articles and advice on our blog.

Even the most conservative estimates place losses from elder financial exploitation at $36 billion each year. And that’s just what’s reported to financial companies and the police. “Elder financial abuse is happening in America at an alarming rate – if it was reported as often as it happens,” asserts Syracuse-based CPA and financial planner Ted Read more >>

One of the most challenging aspects of caring for your aging parents is taking control of their finances or assisting them with financial choices. The decision can be a difficult one and following through may be even more complicated, especially if your parents don’t agree. Understanding the Issues of Caring For Seniors Sometimes it may Read more >>

Once someone retires, they may have limited financial resources. Even with a nice retirement fund built up over the years, care must be taken to manage to ensure an adequate income. Anyone living on a tight budget can find it difficult to afford unexpected expenses. However, it’s possible to live well on a fixed income. Read more >>

5 Tips for Managing Healthcare for Aging Parents. You can read more useful articles and advice on our blog.

“If we care about someone, it’s going to have a financial impact, an emotional impact, and a physical impact,” admits Chris Cooper, a certified financial planner in San Diego. This isn’t exactly news for most adults who care for their aging parents. But Cooper points out that it is possible to lighten the emotional and Read more >>