Potential Income Tax Benefits for Families with Special Needs Children  

Oleh:

Brinker, Thomas M. (Jr.) ; Sherman, W. Richard

Jenis: Article from Bulletin/Magazine
Dalam koleksi: Journal of Accountancy vol. 214 no. 6 (Dec. 2012), page 64-71.
Topik: Tax Benefits; Income Taxes; Disabled Children; Tax Exemptions; Tax Deductions

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ85, JJ85.33 Non-tandon: 3 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

The number of disabled children has increased in recent years as has the cost of caring for them. Practitioners should know about the tax benefits available to parents or other qualifying relatives for some of these costs, a number of which are deductible as medical expenses, above a certain floor. The costs of modifying a house to be handicapped-accessible as well as the cost of attending a special school are examples of costs deductible as medical expenses. Disabled children qualify for dependency exemptions and other tax benefits no matter how old they are as long as they live at home with their parents or other qualifying relative. Disabled adults can deduct impairment-related work expenses for the cost of attendant care services and other expenses that permit them to work at their place of employment. These expenses are not subject to the 2%-of-AGI floor on itemized deductions.

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