Is Assisted Living Tax Deductible?

Assisted living eventually becomes a necessity for many senior citizens. You may be considering moving your elderly parents to an assisted living facility yourself, but also hesitating due to the cost. Before you decide one way or another, you should first learn more about the potential of getting an assisted living tax deduction. If cost is the number one reason why you’re thinking twice about potentially seeking assisted living care for your senior parents, it’s worth taking the time to review your options in-depth. You may be able to secure tax relief for your parents’ medical expenses. In this article, we’ll talk more about the medical expenses of your older parents and how it can factor in your taxes. Re-examine how viable assisted living is as an option for your parents after developing a deeper understanding…

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