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Who are you caring for?
Which best describes their mobility?
How well are they maintaining their hygiene?
How are they managing their medications?
Does their living environment pose any safety concerns?
Fall risks, spoiled food, or other threats to wellbeing
Are they experiencing any memory loss?
Which best describes your loved one's social life?
Acknowledgment of Disclosures and Authorization
By proceeding, I agree that I understand the following disclosures:
I. How We Work in Washington. Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services. APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
II. How We Are Paid. We do not charge you any fee – we are paid by the Participating Communities. Some Participating Communities pay us a percentage of the first month's standard rate for the rent and care services you select. We invoice these fees after the senior moves in.
III. When We Tour. APFM tours certain Participating Communities in Washington (typically more in metropolitan areas than in rural areas.) During the 12 month period prior to December 31, 2017, we toured 86.2% of Participating Communities with capacity for 20 or more residents.
IV. No Obligation or Commitment. You have no obligation to use or to continue to use our services. Because you pay no fee to us, you will never need to ask for a refund.
V. Complaints. Please contact our Family Feedback Line at (866) 584-7340 or ConsumerFeedback@aplaceformom.com to report any complaint. Consumers have many avenues to address a dispute with any referral service company, including the right to file a complaint with the Attorney General's office at: Consumer Protection Division, 800 5th Avenue, Ste. 2000, Seattle, 98104 or 800-551-4636.
VI. No Waiver of Your Rights. APFM does not (and may not) require or even ask consumers seeking senior housing or care services in Washington State to sign waivers of liability for losses of personal property or injury or to sign waivers of any rights established under law.I agree that: A.I authorize A Place For Mom ("APFM") to collect certain personal and contact detail information, as well as relevant health care information about me or from me about the senior family member or relative I am assisting ("Senior Living Care Information"). B.APFM may provide information to me electronically. My electronic signature on agreements and documents has the same effect as if I signed them in ink. C.APFM may send all communications to me electronically via e-mail or by access to an APFM web site. D.If I want a paper copy, I can print a copy of the Disclosures or download the Disclosures for my records. E.This E-Sign Acknowledgement and Authorization applies to these Disclosures and all future Disclosures related to APFM's services, unless I revoke my authorization. You may revoke this authorization in writing at any time (except where we have already disclosed information before receiving your revocation.) This authorization will expire after one year. F.You consent to APFM's reaching out to you using a phone system than can auto-dial numbers (we miss rotary phones, too!), but this consent is not required to use our service.
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Mostly Independent
Your loved one may not require home care or assisted living services at this time. However, continue to monitor their condition for changes and consider occasional in-home care services for help as needed.
Remember, this assessment is not a substitute for professional advice.
Share a few details and we will match you to trusted home care in your area:
I just set up a trust account for my mother. I was advised by the elder care attorney that set up the trust that money can be withdrawn and I do NOT have to claim it as income. There are no tax consequences. This is from the elder care attorney.
If you got a 1099 for tax year 2014, the amount paid to you both needed to be included in your joint income for 2014 taxes.
Actually I'd be concerned about whether or not you (& your wife) actually should be getting a 1099 - like are you both really independent contractors?? and as such can get a 1099- Miscellaneous Income; OR if you both are actually domestic employees and the payor (the trust) needs to be approaching how you both are getting paid as employer / employee rather than contract labor. You need to see a CPA or other tax specialist to review this and then do whatever is needed to set this up so that you do not have an issue & penalty with IRS for incorrect status. Most domestics now are considered employees and the employer has to do FICA, withholding, etc on them.
I would think that setting up an INC or LLC to get around the employee situation may be viewed skeptically unless you have a true legit senior care business registered with the state or city and available for other clients.
If they receive a 1099, they have to file a 1040, because you only get a 1099 for $600 or more income, which is same as the 1040 income requirement to file. IRS website has oodles of info, and TurboTax can walk you thru all sorts of situations too.
First, are you even required to file a 1040? I.e., after reducing your income by deductions and exemptions, do you have income at a level which is taxable?
Second, there is no reason to create an LLC, none whatsoever. It would just complicate the situation since LLC taxes are differently assessed than individual taxes. LLCs also address liability issues, so unless you're concerned about that, stay away from incorporating or creating a business.
Third, the trust accountant will include the amount paid to you when preparing the trust Federal 1041, so the IRS will be aware that care payments have been made.
Fourth, depending on the amount you received for caregiving, it may require estimated payments.
But as suggested, consulting with a tax consultant is advisable.
You do not need to set up an LLC. The IRS form 1099 should already have your taxpayer ID number which is your Social Security number. The IRS has already been provided a copy of the 1099, too, so you must include it with your tax return, too, in exact same amount, or it will be a problem on an audit.
This would be a question for a CPA. If claimed as income all taxes will need to be deducted I would think. Who handles the trust? If a lawyer askthem this question.
By proceeding, I agree that I understand the following disclosures:
I. How We Work in Washington.
Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services.
APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
II. How We Are Paid.
We do not charge you any fee – we are paid by the Participating Communities. Some Participating Communities pay us a percentage of the first month's standard rate for the rent and care services you select. We invoice these fees after the senior moves in.
III. When We Tour.
APFM tours certain Participating Communities in Washington (typically more in metropolitan areas than in rural areas.) During the 12 month period prior to December 31, 2017, we toured 86.2% of Participating Communities with capacity for 20 or more residents.
IV. No Obligation or Commitment.
You have no obligation to use or to continue to use our services. Because you pay no fee to us, you will never need to ask for a refund.
V. Complaints.
Please contact our Family Feedback Line at (866) 584-7340 or ConsumerFeedback@aplaceformom.com to report any complaint. Consumers have many avenues to address a dispute with any referral service company, including the right to file a complaint with the Attorney General's office at: Consumer Protection Division, 800 5th Avenue, Ste. 2000, Seattle, 98104 or 800-551-4636.
VI. No Waiver of Your Rights.
APFM does not (and may not) require or even ask consumers seeking senior housing or care services in Washington State to sign waivers of liability for losses of personal property or injury or to sign waivers of any rights established under law.
I agree that:
A.
I authorize A Place For Mom ("APFM") to collect certain personal and contact detail information, as well as relevant health care information about me or from me about the senior family member or relative I am assisting ("Senior Living Care Information").
B.
APFM may provide information to me electronically. My electronic signature on agreements and documents has the same effect as if I signed them in ink.
C.
APFM may send all communications to me electronically via e-mail or by access to an APFM web site.
D.
If I want a paper copy, I can print a copy of the Disclosures or download the Disclosures for my records.
E.
This E-Sign Acknowledgement and Authorization applies to these Disclosures and all future Disclosures related to APFM's services, unless I revoke my authorization. You may revoke this authorization in writing at any time (except where we have already disclosed information before receiving your revocation.) This authorization will expire after one year.
F.
You consent to APFM's reaching out to you using a phone system than can auto-dial numbers (we miss rotary phones, too!), but this consent is not required to use our service.
Actually I'd be concerned about whether or not you (& your wife) actually should be getting a 1099 - like are you both really independent contractors?? and as such can get a 1099- Miscellaneous Income; OR if you both are actually domestic employees and the payor (the trust) needs to be approaching how you both are getting paid as employer / employee rather than contract labor. You need to see a CPA or other tax specialist to review this and then do whatever is needed to set this up so that you do not have an issue & penalty with IRS for incorrect status. Most domestics now are considered employees and the employer has to do FICA, withholding, etc on them.
I would think that setting up an INC or LLC to get around the employee situation may be viewed skeptically unless you have a true legit senior care business registered with the state or city and available for other clients.
Second, there is no reason to create an LLC, none whatsoever. It would just complicate the situation since LLC taxes are differently assessed than individual taxes. LLCs also address liability issues, so unless you're concerned about that, stay away from incorporating or creating a business.
Third, the trust accountant will include the amount paid to you when preparing the trust Federal 1041, so the IRS will be aware that care payments have been made.
Fourth, depending on the amount you received for caregiving, it may require estimated payments.
But as suggested, consulting with a tax consultant is advisable.