$5,000 Federal Tax Credit to Reduce the Financial Burden of Care

Credit for Caring Act Join the Movement

According to the AARP Valuing the Invaluable report, caregivers provide over $600 billion in free care. This means 38 million unpaid family and friends offer services, on average, 18 hours per week.  Just like parents, family caregivers sacrifice time, energy, and money to help others live and flourish in our country.

Families are raiding their family budget to pay for care.  Caregivers are raiding 401K retirement savings accounts to make-up family budget shortfall.  If not retirement savings, families report taking out second mortgages to pay for care.  Working caregivers juggle work, family, and care putting their own health at risk sacrificing personal care, sleep, exercise, mental health, and a proper diet.  In fact, family caregivers surrender their own future to care for others.

Advocates for You

This bill allows an eligible caregiver a tax credit of up to $5,000 for 30% of the cost of long-term care expenses that exceed $2,000 in a taxable year. Family caregivers deserve a tax credit modeled after the child tax credit.

Monica Stynchula, MSW, MPH, is the founder and CEO of Credit for Caring by REUNIONCare, a business certified by the USA Small Business Administration as women-owned. She is a relentless advocate for the rights and equal treatment of family caregivers. Her work at the state and federal level is a testament to her commitment to the care and longevity fields.

With a robust background in social work and public health, Monica has dedicated her career to improving the lives of caregivers and older adults. Through her leadership at Credit for Caring, she offers valuable resources and support tools designed to empower caregivers and promote positive aging. Her commitment to service and innovation is evident in the comprehensive solutions her business provides.