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Tackling Tax Season

By Jennifer Bradley, Staff Writer

(Page 4 of 4)
  • State Benefits
    Many states offer a state-specific deduction for caregivers. These guidelines change every year, so caregivers should contact their state to see what's available for them.

  • Seek Assistance
    There are many qualified professionals well versed in caregiver tax benefits. The cost of utilizing them may well save caregiver money in the long run.

There are many scenarios that can arise with tax issues. Each family's situation will be unique and have individual considerations. However, with the rising cost of health care, it doesn't take long to spend a good sum of money. A caregiver may want to look into a Flexible Spending Account (FSA) or Health Savings Account (HSA) to help cover such expenses. These funds are becoming increasingly common among employers and employees alike.

Caregivers will only gain from taking advantage of tax benefits now, and knowing what's available for them as a loved one requires more care in years to come.

 

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