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There are many benefits and tax supports available to caregivers. Read on for more information:

• Tax credits for caregivers: In the US, there are some tax credits provided by the government. Some of these benefits include deducting contributions a child made by claiming his or her parent as a dependent. This tax benefit can be used for deducting money a taxpayer paid towards his or her parents’ medical care and expenses. You can find more information by contacting the Internal Revenue Service (IRS) for Publication 502: Medical and Dental Expenses.

In Canada, under the Disability Tax Credit and the Medical Expense Tax Credit, you may be eligible for tax credits. If you are maintaining a home for an eligible dependent relative, you may also be able to claim the Caregiver Tax Credit as well, unless the person is your spouse or common-law partner. As of time of this book’s publication, there was also an additional Family Caregiver Tax Credit. More detailed information can be found on the Canada Revenue Agency (CRA) website.

• Personal emergency leave: Details for this benefit allowing you to take time off from your job may vary by jurisdiction, so it is best to check with your local government office for more details.

• Compassionate Care Benefit Program: This benefit is offered via Service Canada and more detailed information on qualifying and applying can be found on the Service Canada website.

• Family and medical leave: This is an unpaid, job-protected leave to provide care for a loved one who faces a life-threatening illness. Details and conditions vary by jurisdiction, so again, it is essential to check with your local government office for specific details.

• Attendant Care: You may be able to claim a partial or even full amount for a parent in a full-time nursing home, or the salary you pay to an attendant who cares for a parent in your home.

It’s also important to be smart about who claims what when it comes to tax time. Splitting caregiving costs and seeking tax breaks between spouses may have better tax advantages than doing it via one person’s tax return. Getting advice from a financial or tax planner on this can help maximize your tax savings.