{"id":2184,"date":"2018-04-05T08:00:57","date_gmt":"2018-04-05T13:00:57","guid":{"rendered":"http:\/\/assistinghands.com\/46\/?p=2184"},"modified":"2024-10-24T02:25:45","modified_gmt":"2024-10-24T07:25:45","slug":"home-care-expenses-written-off-on-taxes","status":"publish","type":"post","link":"https:\/\/assistinghands.com\/46\/illinois\/schaumburg\/blog\/home-care-expenses-written-off-on-taxes\/","title":{"rendered":"Can In-Home Care Expenses be Written Off on Taxes?"},"content":{"rendered":"

In-home care services<\/a> can drastically improve the quality of life for senior citizens and adults with disabilities by providing them with the care they need right in their own homes.\u00a0 While there are many positive aspects to these services, including helping seniors live a more independent life, these services can get pricey.\u00a0 It is not unusual for seniors and their families to spend thousands of dollars per year for home health care services between insurance premiums, co-pays, and other related expenses.\u00a0 Fortunately, it is possible to write off long-term senior care expenses, including in-home care, as a tax deduction.<\/strong><\/p>\n

Writing Off In-Home Care Taxes<\/h2>\n

The IRS does allow medical tax deductions for what it defines as medical expenses in Publication 502: Medical and Dental Expenses<\/em>.\u00a0 In addition to IRS approved medical expenses, the individual receiving the care must meet the right criteria concerning income, relationships, and citizenship to write off long term senior care on their taxes.\u00a0 If the right criteria are met, the individual receiving care, and their caregiver, may be eligible for significant tax breaks.\u00a0 With the average cost of 40 hours of in-home senior care at around $4,000 per month, the medical tax deductions can really help reduce the financial burden of the families of those receiving elderly care.<\/p>\n

This guide contains basic information about how you can write off the expenses of in-home senior care for you or a loved one.\u00a0 If you or a relative receive home health care<\/a> from Assisting Hands Home Care in Schaumburg, IL, you may be eligible for the medical tax deduction under IRS rules.\u00a0 However, IRS rules are not always as clear as they seem so make sure you discuss your eligibility for these tax deductions with a professional such as a CPA.<\/p>\n

Medical Expenses Defined by the IRS<\/h2>\n
\"Medical

What medical expenses are defined by the IRS?<\/p><\/div>\n

According to the IRS Publication 502: Medical and Dental Expenses<\/em><\/a>, medical expenses include \u201ccosts of diagnosis, cure, mitigation, treatment, or prevention of disease and the costs for treatments affecting any part or function of the body.\u201d\u00a0 It further explains that these expenses may include insurance premiums, transportation costs to receive care, and \u201cqualified long-term care services,\u201d which includes in-home care.<\/p>\n

What are qualified long-term care services?<\/em><\/h3>\n

Long-term care services are defined by the IRS as those that \u201care necessary diagnostic, preventative, therapeutic, curing, treating, mitigating, rehabilitative services, and maintenance and personal care services.\u201d\u00a0 For long-term care to be tax deductible, the person receiving the care must be chronically ill as defined by the IRS, and the care plan must be prescribed and authorized by a licensed healthcare practitioner within the past 12 months.\u00a0 For an individual to be considered chronically ill, one of the following conditions must be met:<\/p>\n