As people age, there are often more tax and legal considerations to discuss. For instance, there are senior credits and deductions that may or may not apply. Examples of these deductions include:

• Long-term care
• Assisted living expenses
• Medical care expenses
• Credit for the elderly or disabled
• And more

In addition to tax deductions and credits, it is important to plan for the future. Too often, planning for declining health and cognitive abilities is neglected and when in a crisis, a family’s only recourse is through a court of law. To prevent this, our tax firm can refer clients to knowledgeable attorneys who can address issues such as preparing wills, assigning powers of attorney, and creating trusts. Working together with the chosen attorney, Cityline Tax provides a special service to our aging clients, or to clients with family members who need assistance with their daily financial tasks. These tax services include:

• Specialized tax preparation for older clients
• Bank reconciliations and assistance in executing financial transactions
• Coordinate the payment of bills and write checks
• Prepare payroll and payroll tax returns for household employees
• Assist with trust and estate administration C