Tax credit for caregiving

Make sure that you talk to the person who prepares your taxes about the possibility of a dependent credit for caring for a relative. According to an Associated Press release, there is a possibility of claiming caregiving expenses if the person or person’s like elderly parents cannot care for themselves. It is worth a try. All of us that provide caregiving services use our own funds due to the inability of our care receiver to pay or our inability to continually ask for payment for groceries, bills paid, etc. That is why there needs to be more legislation to help family caregivers who provide time, money, and care that would cost the state or federal government much more.

Long Term Health Care premium tax credit with Caregiver Credit

The Connecticut Rep. Joe Courtney has introduced a bill H.R. 6237 that would provide a federal tax credit for Long Term Health Care insurance premiums and a caregiver tax credit under certain circumstances. You can see the rest of the article on Courant.com (June 14). The entire bill can be found on the Library of Congress Thomas. It is in the very early stages of being considered in Congress. People should contact their representatives and let them know how they would feel about such a bill. There is a need for tax credits for Long Term Health Care premiums and relief for family caregivers. What do you think about such a bill?