Article

Elder law and the tax practitioner: how to navigate the murky waters

Due to the income limitations of many elderly taxpayers, it is extremely important to minimize their tax burden through proper tax planning. If properly planned, the majority of elderly clients' everyday living expenses will likely be deductible for tax purposes as medical expenses. This paper focuses on the tax consequences arising from long term care and medical expenses, as well as from expenditures for Personal Service Contracts.

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