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Senior Member
Picture of bitteroldhag
Posted
My last post was pretty much ignored because the forum was acting up, but I'm considering a "Family agreement" in which I get paid for caring for mother. I read about this in Newsweek and it seems like a good idea to protect Mother's investments (little that they are) from the nursing home. Mother came through having 1/4 of her bowel removed for cancer like a trooper and the doc says she could live another 10 years. In 10 years, I'll be 70 years old. So I think I'm going to ask to be paid for caregiving. Actually, if I charge $10 an hour for the last 5 years, mother owes me more than she has. The drawback is that I'll have to pay income taxes on this money and that will lower our family savings rate. I'm going to check with an eldercare lawyer about this. I think I should get paid since this is a long term commitment. What do you all think? (I can't see this yellow type very well. Sorry for errors.)
 
Posts: 237 | Location: Oklahoma | Registered: April 13, 2006Reply With QuoteEdit or Delete MessageReport This Post
Senior Member
Picture of Bobcat
Posted Hide Post
Have you considered that your mom give you a tax deductable gift each year? I think the max is $10,000, per recipeint. meaning she can give up to 10,000 as a gift to any number of individuals she wants and it is tax free to the recipient. Supposedly there is not evidence of services rendered, if it is a gift, but who is going to stop her from gifting you? Look into this, when tax time dies down. For me , I find if I call them in oct. they are fighting to take my call and answer my questions. But that doesn't help you now. At this time of year, answers are hard to get even if you have an accountant.
Like you , these yellow letters on white background are hard to take, and proof reading is impossible. Is it a ploy to minimize activity onthe anger wall? Don't know.
So much in your corner, Bobcat Let's move this to a forum that has normal color, Legal Financial maybe. They really need to do something about this yellow on white.


* the crystal ball (*) is in the shop>>>>
 
Posts: 3992 | Location: mid Atlantic | Registered: January 13, 2007Reply With QuoteEdit or Delete MessageReport This Post
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