Under the Credit for Caring Act, family members who care for older people and those with disabilities could receive up to $3,000 in tax savings annually.
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Livingston, NJ (PRWEB) March 18, 2016
In a recent blog post, attorney Stuart M. Nachbar discusses a new bill (H.R. 4708) proposed in the United States House of Representatives that will provide some tax credits for parents and others who provide care for people with disabilities. “Under the Credit for Caring Act, family members who care for older people and those with disabilities could receive up to $3,000 in tax savings annually,” writes Nachbar in the blog.
To be eligible, caregivers would have to be working and earning at least $7,500 per year. The tax credit would offset expenses for everything from groceries to home modifications, transportation and hired help to care for individuals with long-term needs who are unable to perform at least two activities of daily living, such as eating, walking, dressing or grooming.
“If passed, people who qualify will include those that provide care to a spouse, parent, grandparent, sibling, child, niece, nephew, brother or sister-in-law, or father or mother-in-law,” said Nachbar. “This is a much-needed and long overdue proposal that will provide caring family members the financial assistance they desperately need.”
About Stuart M. Nachbar, Esq., the Law Office of Stuart M. Nachbar, P.C.
The Law Office of Stuart M. Nachbar, recognized as an “AV Preeminent Firm” by LexisNexis/Martindale-Hubbell, specializes in bankruptcy, special needs advocacy and personal injury. Stuart M. Nachbar represents families with special needs children as an advocate fighting for your child’s rights and assisting families with special needs concerns before local school districts and administrative law judges. For more information, please call (973) 567-0954. The law office is located at 354 Eisenhower Parkway, Suite 2025, Livingston, NJ 07039.
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