Tax Planning for Parents of Children with Autism (And Special Needs)

Tax Planning for Parents of Children with Autism
Source: (Parenting Special Needs Magazine)
Author: Karen F. Greenberg, CFP

Parents or other caregivers of loved ones with autism may qualify for valuable tax benefits, which may be overlooked by some tax preparers who are unfamiliar with the autism spectrum disorder. These unique tax benefits may entitle parents to additional refunds of thousands of dollars.

Families often incur a myriad of expenses because of their child’s treatment and life style expenses many of which are deductible as medical expenses. Taxpayers who itemize deductions can claim medical expenses to the extent that they exceed 7.5 percent of adjusted gross income .The challenge is to be aware of which expenses may be allowable and to keep track of them. Click here to read the rest of the story.

 

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