Monthly Archives September 2019

When are Assisted Living Expenses Tax Deductible?

Assisted living expenses can become extremely expensive in a short amount of time. Whether your loved one is suffering from physical challenges or mental impairment, these expenses may be tax deductible. “Chronically Ill” Status Make sure that a care plan has been created for your loved one and that the care required for their daily needs is carefully documented. If their long-term care expenses are more than 10% of your gross income as of 2019 and they are considered chronically ill, these expenses are tax deductible. Physical factors of chronic illness include the inability to feed themselves, dress, bathe or
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