Savvy Senior

Dear Savvy Senior My wife and I provide a lot of financial support to my elderly mother and are wondering if any of it is tax deductible. What can you tell us? Stretched Thin Dear Stretched, There is some tax relief available to adult children who help look after their aging parents or other relatives. But in order to be eligible, both you and your mom will need to meet Uncle Sam’s criteria. Here’s what you should know. IRS Eligibility If you’re helping financially support your elderly mother, to get a tax deduction … [Read more...] about Tax help in caring for an aging parent

Dear Savvy Senior How can I reduce the junk mail my elderly mother gets? She gets around 25 pieces of junk mail each day, and I just discovered that she’s given away nearly $2,000 over the past year to many of the sleazy groups that mail her this junk. How can I stop this? Frustrated Daughter Dear Frustrated Millions of seniors get bombarded with unwanted junk mail these days, including mail fraud schemes that you and your mom need to be particularly leery of. Here’s what you can do to help. Senior alert While junk mail … [Read more...] about How to stop junk mail and prevent mail fraud

Dear Savvy Senior I would like to find out what kinds of veterans benefits are available to older vets and their spouses? My dad served four years in the Army during the Korean War, and I’m curious to see if there are any VA benefits that he or my mom may qualify for. What can you tell me? Searching Son Dear Searching, That’s a great question. There are actually millions of older veterans and their families who don’t take advantage of the VA benefits they’re entitled to because they either don’t know they exist or they don’t … [Read more...] about Benefits for older veterans and their families

Dear Savvy Senior, What devices can you recommend to help forgetful seniors keep up with their medications? My 76-year-old mother takes nine different prescription drugs and that doesn’t include all the vitamin supplements or over-the-counter medicines she takes. Any suggestions? Concerned Daughter Dear Concerned, The challenge of juggling medications can be a problem for anyone, especially seniors who take multiple drugs for various health conditions. Here are some different solutions that can help. Medication … [Read more...] about How to keep up with your medications

Dear Savvy Senior What are the IRS filing requirements for seniors this year? I had to file income tax returns last year, but my income dropped a bit and I’m wondering if I may be off the hook this year. What can you tell me? Tired of Taxes Dear Tired, According to the Tax Policy Center, more than half of all seniors in the U.S., age 65 and older, won’t have to file income tax returns this year mainly because their incomes are under the IRS filing requirements. Here’s a breakdown of the 2010 filing requirements along with a … [Read more...] about Do you need to file a tax return this year?