Keep detailed records of expenses

Clients who opt to explore in-home care options for their loved ones should remember the valuable tax deductions and credits associated with providing care to a dependent — and be advised to keep detailed records because a surprisingly wide range of expenses qualify for the medical and dependent care deductions.

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Robert Bloink, Esq., LL.M., has taught at the Texas A&M University School of Law and the Thomas Jefferson School of Law; in the past decade, Bloink has initiated $2B+ in insurance & alternative asset class portfolios, and previously served as a senior attorney in the IRS Office of Chief Counsel for the Large- and Mid-Sized Business Division. Bloink is also the co-author of Tax Facts, a reference solution that helps to answer critical tax questions and provides the latest tax developments.

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Tax breaks for caring for an aging family member

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