Search Results for: Tax-Time

Part 4: Tax-Time Series- Estate Planning Services May Be Tax Deductible

Did you know that if you met with an estate planning attorney within the past year, some of your legal fees may be tax deductible?  In both Merians v. Comm’r, 60 TC 187 (1973) (involving estate planning using an irrevocable trust) … [Read more...]

Part 3: Tax-Time Series- Are Long-term Care Medical Expenses Tax Deductible?

Janice’s 90-year old mother Merle had to move to assisted living last year because she was no longer able to care for herself.  Her doctor certified she could not bathe, dress or feed herself due to dementia and loss of mobility. … [Read more...]

Part 2: Tax-Time Series- Claiming a Parent as a Dependent

Tom’s mother, Christine, has been living with his family for 10 years.  Christine is insistent that Tom doesn’t claim her as a dependent because she’s worried it may affect her Medicare/Medicaid benefits for nursing home subsidies … [Read more...]

Part 1: Tax-Time Series – Deductions for Caregivers

As a caregiver, you likely pay for some care costs out-of-pocket.  Did you know that if you are caring for a relative, you canclaim tax deductions and credits for certain medical expenses?  These can include dental treatments, … [Read more...]

Ask the Expert: Can You Deduct a Toupee from Taxes?

Q. My boyfriend, Richard, became self-conscious about his baldness last year and went out one day and purchased a toupee. We also took in a foster cat, landscaped our property, and installed an in-ground pool to help us stay fit. … [Read more...]

Tax Day: Seven Unusual Deductions

If you are one of those people who waited until the very last minute to complete and send in your taxes, you want to make sure you take all of the deductions you’re entitled to. Last month, I wrote a blog post with some often … [Read more...]

Don’t Forget These Often-Overlooked Tax Deductions

As tax time draws near, you want to make sure you file all the proper forms and take all deductions you're entitled to. The following are some helpful but often overlooked deductions to keep in mind as you prepare your 2013 … [Read more...]

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