America is a land of givers, overall donating more time and money and are more likely to help a stranger than other nations. Since giving is an inherent part of our culture, we often forget about the tax aspect of our donations.
As you start to gather your documents and tally your receipts for your taxes, don't forget to write off your kids! There are many tax breaks you can claim with Uncle Sam if you have children and some you may not even know about.
For an aging person, the move to a skilled nursing facility is a costly one. Nationwide, the average annual cost of a semi-private room in a skilled nursing facility (nursing home) in 2011 was $78,110. And the cost is clearly rising.
Taxes are inherently complicated. But when you throw a dependent (in your case, a kid) into the mix, things get even more complicated. The good news is that the government recognizes that children are a big responsibility.
Britain is criticized as being too lenient, too ready to hand out money first and ask questions later. America, on the other hand, forces people to jump through loops even to find out what help is available.