Supporting a parent could cut your taxes

December 16, 2013 Written by

If you provided more than half a parent’s support in 2013, you may be entitled to a $3,900 dependency exemption. If other family members helped to provide support, you can use a “multiple support agreement” to decide who gets the exemption for 2013. Paying a caretaker or paying for a parent’s medical expenses might qualify for a tax credit or deduction. For details, contact our office.



Written by: Doug Rodrigues