Senior Helpers In Home Care of Lansdale, Pennsylvania, Shares

Hidden Tax Gift Families Don’t Know About

Unknown Gem That Gives Tax Breaks To Americans Caring for Elderly Loved Ones

April 1, 2011 – The economic downturn has made life even more of a struggle for folks caring
for elderly loved ones.  They’re working longer hours, paying higher gas and medical bills and
struggling to find the money and time to care for aging loved ones. However, this tax season,
Uncle Sam gives you a gift  if you’re caring for an elderly loved one – a tax break many families
don’t even know about.

“One fourth of the families in this country are caring for elderly loved ones and they’re not
aware of a tax law that allows you to write-off some of the expense,” says Peter Ross CEO of
Senior Helpers, a leading provider of in-home senior care. “Whether you’re providing that care
yourself, or you’ve hired a caregiver, you should take advantage of the tax breaks that are a
true gift in these troubled economic times. If you don’t qualify for the tax breaks, there are
other ways to cut costs every family should know about.”

Caring for An Elderly Loved One In Tough Economic Times

♦ A recent survey shows that more than 40% of caregivers are spending more than $5,000 a
year caring for an elderly loved one.*

♦ More than a third of surveyed caregivers have been forced to quit jobs, take early
retirement, reduce hours or take a leave of absence to care for an elderly loved one.*

♦ 40% of female caregivers say the economic downturn has made it harder for them to care for
loved ones.**

*survey by caring.com
**survey by Volunteers of America

TAX BREAKS FOR ELDERLY CARE

♦ Claim your parent as a dependent

----- Your parent’s income, excluding Social Security, must be less than the amount of the
personal exemption. For 2010, the personal exemption was $3,650. For 2011, it’s $3,700.  Plus,
you must provide more than 50% of a parent’s financial support.

----- If a parent lives with you, you can include a percentage of your mortgage and utilities.

----- You can claim more than one parent as a dependent if both meet the income and support
tests. 
♦ Deduct your parent’s medical expenses

----- If you contribute to a parent’s health care expenses and pay the health care provider
yourself versus giving your parent the money to pay, you may qualify to deduct costs, even if
you can’t claim the parent as a dependent.

----- To claim this deduction, you must provide at least 50% of the parent’s financial support,
but you don’t have to meet the income test.

----- Deduction is limited to medical expenses that exceed 7.5% of your adjusted gross income. 
Qualified expenses include the cost of a nursing home, in home health care, dental care, and
prescribed medicine. You can include your own unreimbursed medical expenses when
calculating total costs.

Source: Perspective Accounting Services

OTHER WAYS TO CUT COSTS IF CARING FOR AN ELDERLY LOVED ONE

♦ Veteran’s Benefits – Veterans can earn up to $1,800 a month in VA pension money to pay for
in-home care. Senior Helpers helps families find resources to get these benefits.

♦ Contact Your Local Area Agency on Aging to learn about government assistance programs
that provide low income seniors, eligible for Medicaid, money to pay for in-home care.

“American families need to realize there is help out there to help them shoulder the burden of
caring for an elderly loved one, “says Ross. “If you can’t provide care yourself, hire a caregiver
and research the ways you can pay for that care. It’s a cheaper alternative to a nursing home
and your loved ones get to stay in the comfortable surroundings of their own home.”

Media Contact: John Cabrey, (215) 699-5400, jcabrey@seniorhelpers.com

For more information about Senior Helpers, please visit:

http://seniorhelpers.com/location/4209

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About Senior Helpers:

Senior Helpers provides many in-home, caregiving services for the elderly in the Lansdale,
Doylestown, Chalfont, Hatfield, and North Wales area. We offer extensive in-home care services
for seniors who embrace their independence and the personal dignity that goes with it. Our in-
home care services are provided by bonded and insured caregivers all of whom pass a national
background check.
If a senior family member needs in-home care services in Bucks County PA and Montgomery
County PA, we are an excellent choice with exemplary references. In-home care is the
compassionate choice for your elderly loved ones' continued independent living. We promise
we will do our best to make it a positive experience for them and you. For more information,
please visit: http://seniorhelpers.com/location/4209.