You Can Take These Tax Deductions for Long-Term Senior Care

Know the rules for deducting assisted living expenses.

Tax season is here, and for many seniors and family caregivers of elderly loved ones, it can be a stressful time of year. No one likes to be hit with a big tax bill, and for elderly folks living on a fixed income, keeping costs down is crucial.

For seniors, deductions for certain medical expenses, including some long-term care and assisted living expenses, are among the biggest tax-saving opportunities. And in some cases, family caregivers of older adults can include related expenses in their own tax deductions.

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