Are you sure you want to exit? Your progress will be lost.
Who are you caring for?
Which best describes their mobility?
How well are they maintaining their hygiene?
How are they managing their medications?
Does their living environment pose any safety concerns?
Fall risks, spoiled food, or other threats to wellbeing
Are they experiencing any memory loss?
Which best describes your loved one's social life?
Acknowledgment of Disclosures and Authorization
By proceeding, I agree that I understand the following disclosures:
I. How We Work in Washington. Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services. APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
II. How We Are Paid. We do not charge you any fee – we are paid by the Participating Communities. Some Participating Communities pay us a percentage of the first month's standard rate for the rent and care services you select. We invoice these fees after the senior moves in.
III. When We Tour. APFM tours certain Participating Communities in Washington (typically more in metropolitan areas than in rural areas.) During the 12 month period prior to December 31, 2017, we toured 86.2% of Participating Communities with capacity for 20 or more residents.
IV. No Obligation or Commitment. You have no obligation to use or to continue to use our services. Because you pay no fee to us, you will never need to ask for a refund.
V. Complaints. Please contact our Family Feedback Line at (866) 584-7340 or ConsumerFeedback@aplaceformom.com to report any complaint. Consumers have many avenues to address a dispute with any referral service company, including the right to file a complaint with the Attorney General's office at: Consumer Protection Division, 800 5th Avenue, Ste. 2000, Seattle, 98104 or 800-551-4636.
VI. No Waiver of Your Rights. APFM does not (and may not) require or even ask consumers seeking senior housing or care services in Washington State to sign waivers of liability for losses of personal property or injury or to sign waivers of any rights established under law.I agree that: A.I authorize A Place For Mom ("APFM") to collect certain personal and contact detail information, as well as relevant health care information about me or from me about the senior family member or relative I am assisting ("Senior Living Care Information"). B.APFM may provide information to me electronically. My electronic signature on agreements and documents has the same effect as if I signed them in ink. C.APFM may send all communications to me electronically via e-mail or by access to an APFM web site. D.If I want a paper copy, I can print a copy of the Disclosures or download the Disclosures for my records. E.This E-Sign Acknowledgement and Authorization applies to these Disclosures and all future Disclosures related to APFM's services, unless I revoke my authorization. You may revoke this authorization in writing at any time (except where we have already disclosed information before receiving your revocation.) This authorization will expire after one year. F.You consent to APFM's reaching out to you using a phone system than can auto-dial numbers (we miss rotary phones, too!), but this consent is not required to use our service.
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Mostly Independent
Your loved one may not require home care or assisted living services at this time. However, continue to monitor their condition for changes and consider occasional in-home care services for help as needed.
Remember, this assessment is not a substitute for professional advice.
Share a few details and we will match you to trusted home care in your area:
This is a question for your CPA. BUT First of all, be certain you have a well written care contract and stipulate that it is a SHARED LIVNG EXPENSES contract in which Mom pays this amount toward rental/mortgage and that amount for food and this amount for transportation and that amount for utilities. If this is done it is normally not taxable. However, if she is PAYING FOR CARE it may be taxable. Or paying rental.
Much depends on the wording and this is why, for the sake of taxes AND her protection should she ever be in a position to need 5 year Medicaid lookback, this must be done right.
That means an attorney. That means a contract. And that means finding out the tax rules for federal and your state.
I agree with AlvaDeer. I immediately thought "consult your tax attorney or tax preparer. In other words, if someone here says "Yes," what would you do?
It is important to realize that everyone here generally replies from personal experience - and situations can be (usually are) individual, especially, perhaps, when it involves taxes, finances, etc.
In addition to contacting your tax preparer, do some preliminary research. See below ... it is a start. Googling, I found:
Special rules apply to workers who perform in-home services for elderly or disabled individuals (caregivers). Caregivers are typically employees of the individuals for whom they provide services because they work in the homes of the elderly or disabled individuals and these individuals have the right to tell the caregivers what needs to be done.
Family members may or may not provide these services. If the caregiver employee is a family member, the employer may not owe employment taxes even though the employer needs to report the caregiver's compensation on a Form W-2. See Table 1, “Do You Need To Pay Employment Taxes” on page 5 of Publication 926, Household Employer's Tax Guide for more information.
However, in some cases the caregivers are not employees. In such cases, the caregiver must still report the compensation as income of his or her Form 1040 or 1040-SR and may be required to pay self-employment tax depending on the facts and circumstances.
The following FAQs illustrate some fact patterns involving family member caregivers who are not employees.
And . . .
Are caregivers exempt from federal income tax?
Is Caregiver Income Taxable? As a caregiver, you may be wondering if your income is taxable. The short answer is yes. Depending on your specific situation, you may have to pay both federal income taxes as well as unemployment insurance taxes.
Can you claim elderly parent on taxes?
To qualify as a dependent, Your parent must not have earned or received more than the gross income test limit for the tax year. This amount is determined by the IRS and may change from year to year. The gross income limit for 2023 is $4,700 and increases to $5,050 for 2024. ... It goes on in more detail.
If it is just her share of costs, no, it is not income to anyone.
Be sure and let your tax preparer know what is going on with random monthly deposits, if you do them. I recommend creating a line item that states - non-taxable monies from mom for her share of costs. That way it is obvious and already answers any questions.
If New Mexico has any problems with this, you might find having mom directly pay bills and pay for groceries easier.
If she is paying for her utilities and groceries, then you don't need to claim that. If she is paying you "rent," you probably need to claim that as income.
If she claims the money she gives you on her tax return, then you need to declare it as income.
However, if you think your Mom might be applying for Medicaid in the next 5 years, you should be documenting all the money your Mom is giving to you and what it is for. If she attempts to go on Medicaid or low income subsidy, they will ask you for proof of what that money was for.
If it is over 15 k then it has surpassed the gifting range and you need to claim. Speaking of gifting, if you do not have a contract and then later she needs Medicaid, then the entire amount over the past 5 years would look like gifting. She would then be assessed for a number of months you would have to pay out of pocket for her care or she will be delayed for a number of months. Seek legal advice to determine to pay taxes
By proceeding, I agree that I understand the following disclosures:
I. How We Work in Washington.
Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services.
APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
II. How We Are Paid.
We do not charge you any fee – we are paid by the Participating Communities. Some Participating Communities pay us a percentage of the first month's standard rate for the rent and care services you select. We invoice these fees after the senior moves in.
III. When We Tour.
APFM tours certain Participating Communities in Washington (typically more in metropolitan areas than in rural areas.) During the 12 month period prior to December 31, 2017, we toured 86.2% of Participating Communities with capacity for 20 or more residents.
IV. No Obligation or Commitment.
You have no obligation to use or to continue to use our services. Because you pay no fee to us, you will never need to ask for a refund.
V. Complaints.
Please contact our Family Feedback Line at (866) 584-7340 or ConsumerFeedback@aplaceformom.com to report any complaint. Consumers have many avenues to address a dispute with any referral service company, including the right to file a complaint with the Attorney General's office at: Consumer Protection Division, 800 5th Avenue, Ste. 2000, Seattle, 98104 or 800-551-4636.
VI. No Waiver of Your Rights.
APFM does not (and may not) require or even ask consumers seeking senior housing or care services in Washington State to sign waivers of liability for losses of personal property or injury or to sign waivers of any rights established under law.
I agree that:
A.
I authorize A Place For Mom ("APFM") to collect certain personal and contact detail information, as well as relevant health care information about me or from me about the senior family member or relative I am assisting ("Senior Living Care Information").
B.
APFM may provide information to me electronically. My electronic signature on agreements and documents has the same effect as if I signed them in ink.
C.
APFM may send all communications to me electronically via e-mail or by access to an APFM web site.
D.
If I want a paper copy, I can print a copy of the Disclosures or download the Disclosures for my records.
E.
This E-Sign Acknowledgement and Authorization applies to these Disclosures and all future Disclosures related to APFM's services, unless I revoke my authorization. You may revoke this authorization in writing at any time (except where we have already disclosed information before receiving your revocation.) This authorization will expire after one year.
F.
You consent to APFM's reaching out to you using a phone system than can auto-dial numbers (we miss rotary phones, too!), but this consent is not required to use our service.
BUT
First of all, be certain you have a well written care contract and stipulate that it is a SHARED LIVNG EXPENSES contract in which Mom pays this amount toward rental/mortgage and that amount for food and this amount for transportation and that amount for utilities. If this is done it is normally not taxable.
However, if she is PAYING FOR CARE it may be taxable. Or paying rental.
Much depends on the wording and this is why, for the sake of taxes AND her protection should she ever be in a position to need 5 year Medicaid lookback, this must be done right.
That means an attorney. That means a contract. And that means finding out the tax rules for federal and your state.
It is important to realize that everyone here generally replies from personal experience - and situations can be (usually are) individual, especially, perhaps, when it involves taxes, finances, etc.
In addition to contacting your tax preparer, do some preliminary research.
See below ... it is a start. Googling, I found:
Family Caregivers and Self-Employment Tax:
https://www.irs.gov/businesses/small-businesses-self-employed/family-caregivers-and-self-employment-tax
In part:
Special rules apply to workers who perform in-home services for elderly or disabled individuals (caregivers). Caregivers are typically employees of the individuals for whom they provide services because they work in the homes of the elderly or disabled individuals and these individuals have the right to tell the caregivers what needs to be done.
Family members may or may not provide these services. If the caregiver employee is a family member, the employer may not owe employment taxes even though the employer needs to report the caregiver's compensation on a Form W-2. See Table 1, “Do You Need To Pay Employment Taxes” on page 5 of Publication 926, Household Employer's Tax Guide for more information.
However, in some cases the caregivers are not employees. In such cases, the caregiver must still report the compensation as income of his or her Form 1040 or 1040-SR and may be required to pay self-employment tax depending on the facts and circumstances.
The following FAQs illustrate some fact patterns involving family member caregivers who are not employees.
And . . .
Are caregivers exempt from federal income tax?
Is Caregiver Income Taxable? As a caregiver, you may be wondering if your income is taxable. The short answer is yes. Depending on your specific situation, you may have to pay both federal income taxes as well as unemployment insurance taxes.
Can you claim elderly parent on taxes?
To qualify as a dependent, Your parent must not have earned or received more than the gross income test limit for the tax year. This amount is determined by the IRS and may change from year to year. The gross income limit for 2023 is $4,700 and increases to $5,050 for 2024. ... It goes on in more detail.
Gena / Touch Matters
Be sure and let your tax preparer know what is going on with random monthly deposits, if you do them. I recommend creating a line item that states - non-taxable monies from mom for her share of costs. That way it is obvious and already answers any questions.
If New Mexico has any problems with this, you might find having mom directly pay bills and pay for groceries easier.
However, if you think your Mom might be applying for Medicaid in the next 5 years, you should be documenting all the money your Mom is giving to you and what it is for. If she attempts to go on Medicaid or low income subsidy, they will ask you for proof of what that money was for.