Category Archives: Medical

Taxes After Death

Today TaxMama® hears from Darlene in the TaxQuips Forum with this question. “A couple has filed married filing separately for at least 4 years. About 3 years ago he went into a nursing home. She continue to file married filing separately, preparing his return for him also. The nursing home took just about all his […]

Long Term Care Insurance

Today TaxMama® hears from Connie in the TaxQuips Forum with an excellent question. “I have a long term care insurance policy that I took out last year. This insurance is to cover you if you are put in a nursing home or other type of care facility; it is not long term disability insurance. I […]

Nursing Home Costs

 Today TaxMama hears from Susan in the TaxQuips Forum with an ever more common  situation. “My dad (age 88) is in a nursing home because my mom can no longer care for him. I wanted to know which nursing home expenses are considered medical expenses.”  

In 2012, Many Tax Benefits Increase Due to Inflation Adjustments

WASHINGTON — For tax year 2012, personal exemptions and standard deductions will rise and tax brackets will widen due to inflation, the Internal Revenue Service announced today. By law, the dollar amounts for a variety of tax provisions, affecting virtually every taxpayer, must be revised each year to keep pace with inflation. New dollar amounts […]

Medical Massages

Today TaxMama hears from Angela in the TaxQuips Forum, who wants to do this. “I’m trying to maximize my deductions and this is the first time I’m able to use medical deductions. My husband is unemployed and has high co-pays and COBRA payments. When I was reading the IRS info on what can be deducted, […]

NO NURSING HOME FOR ME!

About two years ago my wife and I were on a cruise through the western Mediterranean aboard a Princess liner. At dinner we noticed an elderly lady sitting alone along the rail of the grand stairway in the main dining room. I noticed that all the staff, ship officers, waiters, busboys, etc. all seemed very […]

Is This Taxable Income

Today TaxMama hears from Karen in California in the TaxQuips Forum, who tells us.  “My father died from lung cancer that was determined to be caused by job conditions. My brother and I may be receiving a one-time survivors benefit compensation check for a large amount of money. Will this be taxable income?”

Tax Cuts for Wage-Earners

Today TaxMama hears from Chris in the TaxQuips Forum, who puts out a challenge to TaxMama. He says, “Tax mama has advice for business owners. But how does an individual get more money on their paychecks?”

Dealing with Addicts

Today TaxMama hears from someone who will remain anonymous. She was shocked to learn that her man has been secretly abusing drugs for several years. When asked where he got the money? She admitted that he had gained access to an ATM card on an account she wasn’t watching and had depleted that account.