Tax Strategy: Two new deductions aid help for elderly parents
New tax rulings favor taxpayers who support elderly parents. A $750 dependency deduction and a $30 credit apply when Medicare benefits do not count toward a parent’s total support. The changes shift the support calculations, enabling many to claim dependents they previously could not. Additional details urge compiling itemized supports and ensuring more-than-half support before year’s end.
MENTIONED IN THIS ARTICLE
New York
Prentice-Hall
U.S
Tax tips on prepaid medical expenses and dependents
A 1978 ruling allows deducting prepaid medical expenses when paid in advance for future care. The article outlines a scenario with a retirement home and a medical care split, advising to obtain a year-end statement separating ordinary and medical care to maximize deductions. It also notes a strategy where paying a parent's medical bills in full may let the caregiver claim medical expense deductions if the parent is not a qualifying dependent.
Bridge by Oswald Jacoby and James Jacoby
Forty years ago Oswald Jacoby helped craft the rule to raise partner with a small no trump. The spring charity game hands illustrate the idea with North’s one bid leading to potential game in hearts or spades depending on defense and East’s play.
MENTIONED IN THIS ARTICLE
Oswald Jacoby
North
South
H North
Thearte
West
Eset
East
South Boston high fights spark arrests over integration
Boston AP report says fights erupted at South Boston high amid court-ordered busing. One black pupil had a cut hand from an office window while a white pupil had a lip cut. Several students were arrested and injured pupils, including a white girl with a head bruise and a black girl punched in the mouth, were sent home.
Martial law proclamation urged in Virginia colony
Dateline Norfolk Va November 7 1775 Royal Governor Dunmore prepares a proclamation ordering every able bodied man to report to his majesty's standard or face treason Indentured servants and slaves who agree to bear arms for the British were promised freedom
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Norfolk
Royal Gov. Dunmore
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