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5 Possible Tax Aspects of a Parent Moving into a Nursing Home

If you have a parent entering a nursing home, you may not be thinking about taxes. But there are a number of possible tax implications. Here are five. 1. Long-term Medical Care The costs of qualified long-term care, including nursing home care, are deductible as...

IRS Audits May Be Increasing, So Be Prepared.

The IRS just released its audit statistics for the 2020 fiscal year and fewer taxpayers had their returns examined as compared with prior years. But even though a small percentage of returns are being chosen for audit these days, that will be little consolation if...