Tuesday, January 19, 2010

 

Tax Help In Caring for an Aging Parent

Millions of adult children find themselves looking after aging parents. Tax laws offer some help, as long as you and your folks meet the criteria.
The key to Internal Revenue Service assistance in caring for an elderly relative is whether you can claim the person as a dependent. Any dependent must meet certain tests. While there is a little flexibility when dealing with children, fewer exceptions are granted when the potential dependent is older.

Tax Help In Caring for an Aging Parent
Source: Bank Rate

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