You’d be surprised at how affordable senior living can be, especially when you compare it to the day-to-day costs of maintaining a home (To compare assisted living costs to living at home, click here: Let’s Compare). Most people find that when comparing their household expenses to senior living costs the difference can be nominal.
While there are standard monthly rates for each type of residence, you also have a range of service options to choose from depending on the level of day-to-day assistance you desire. Our licensed nurse will sit down with each resident and their family to do a full assessment before any decisions are made regarding additional services.
All services can also be tailored on a day-to-day basis to adjust to changing needs.
Long-term Care (LTC) Insurance and Reverse Mortgages are also important to consider during the process of finding a senior living community. For further information on LTC Insurance, click here. For further information on Reverse Mortgages, click here.
Tax Deductibility of Alzheimer’s Care
Many families request information regarding the tax deductibility of assisted living rent for Alzheimer’s residents. Unfortunately, because each resident’s circumstances and care needs are unique, we can’t provide you with a specific answer. While we can’t give you specific advice, we can provide you with the information below, which is being circulated within the assisted living industry. As the information indicates, if you qualify, your rent may be deductible as an itemized medical expense and deductible from taxable income, to the extent it exceeds 7.5% of gross income. To determine if you qualify we encourage you to review the enclosed material and speak with your tax advisor and physician.
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