We understand that you are about to make a very important decision regarding the care of yourself or a loved one. We hope that the following information helps you in gathering and comparing information to assist you in making the right decision.
Tax Deductibility Benefit
Present law provides that an individual can deduct from taxable income certain medical expenses associated with living in nursing facilities, personal care homes, and assisted living communities for the purpose of receiving medical care. This deduction may be applicable for adult children or certain other relatives who are paying a portion or all of a resident’s costs associated with living at Colonial Assisted Living Community. Consultation with a tax professional is strongly advised before making financial decisions.
Benefits are available for U.S. Veterans or the surviving spouses of a veteran. Colonial Assisted Living offers a unique program that can reduce the cost of assisted living. As a Veteran you or your spouse may be eligible for benefits toward Assisted Living care. Please contact us to learn more.
Leading Age: Formerly American Association of Homes and Services for the Aging – www.leadingageky.org
Lifesteps Foundation – www.lifestepsfoundation.org
Doctor solve Healthcare Solutions – www.doctorsolve.com
New Lifestyles Magazine – www.newlifestyles.com
Kentucky Senior Living Association – https://kentuckyseniorliving.org