Posted on: 9 June 2017
At tax time, it's possible to claim a variety of medical expenses that you may incur while providing care for a loved one. This means that if you're paying for a home health aide for a family member, you should ensure that you keep these financial records so that you can provide them to your bookkeeper. The cost of the in-home care won't likely be the only medical expense that you pay toward the care of your family member. To be able to claim as many expenses as possible at tax time, you should be vigilant about saving as many healthcare-related receipts as possible. Here are some receipts that you'll definitely want to save.
In many cases, you'll arrange for the home health aide to take your elderly parent to medical appointments. Make sure that the aide keeps any travel-related receipts; for example, if he or she has to pay to park, you'll want a copy of the parking receipt. You can then reimburse the aide for having to pay out of pocket, while also keeping the receipt to submit to your bookkeeper at tax time. If you end up taking your parent to a health appointment in which you have to travel to a different city and stay overnight, you should also keep the hotel receipt.
Medical Equipment Receipts
When a patient chooses to receive in-home care instead of move into a care facility, he or she will often need an assortment of medical supplies. For example, you may need to buy or rent a wheelchair, walker, commode, or other mobility aids based on the recommendation of your home health aide. Whether the aide has picked up these things and you have reimbursed him or her or you've bought or rent them yourself, make sure that you keep all of the receipts to claim as medical expenses.
Home Change Receipts
Many home health aides will thoroughly assess the patient's home to determine what changes will need to be made. Whether your loved one is living in his or her own home or with you, this may mean that you need to perform some upgrades. Upgrades made to the home for medical purposes can be claimed as medical expenses, so be sure to keep the invoices given to you by any contractors you hire. Or, if you choose to do the work yourself, keep all of the receipts from products that you buy, such as grab bars for the bathroom, materials for an exterior ramp, and more.Share