More than a million Americans live in nursing homes, according to various reports. If you have a parent entering one, you’re probably not thinking about taxes. But there may be tax consequences. Let’s take a look at five possible tax breaks. 1. Long-term medical care The costs of qualified long-term care, including nursing home care,
tax deductions Archives - Crawford Ellenbogen
Aug 2, 2023
Moving Mom or Dad into a nursing home? 5 potential tax implications
- By Victor Dozzi
- Taxes
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Feb 15, 2022
Keeping meticulous records is the key to tax deductions and painless IRS audits
- By Joan Ellenbogen
- Business
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If you operate a business, or you’re starting a new one, you know you need to keep records of your income and expenses. Specifically, you should carefully record your expenses in order to claim all of the tax deductions to which you’re entitled. And you want to make sure you can defend the amounts reported
Jan 9, 2020
Sep 19, 2019
Getting a divorce? There are tax issues you need to understand
- By Ellenbogen
- Taxes
- 0 Comments
In addition to the difficult personal issues that divorce entails, several tax concerns need to be addressed to ensure that taxes are kept to a minimum and that important tax-related decisions are properly made. Here are four issues to understand if you are in the process of getting a divorce. Alimony or support payments. For