Tax Deduction

Section 213 of the Internal Revenue code allows deductions for medical care for an individual, spouse, or dependent if the expense exceeds 7.5% of the taxpayer’s adjusted gross income. The monthly fee of a retirement community is a medical expense. This further states that if a resident is living in because of a medical condition which requires them to be there, and meals and lodging are furnished, then the cost is considered medical care expense.

If the main reason for living in an Independent and/or Assisted Living community is for medical care, then that cost is a deductible medical expense.

Please consult your tax advisor on this rule if you feel this would apply to your situation

Veteran or Widow of a Veteran

If you are a veteran or widow of a veteran who served in a war, you may be eligible for a monetary program called Aid and Attendance. Please feel free to inquire about this program.