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Can I get paid to care for my parents since I quit my job to be their fulltime caregiver?

My parents are in their 80's, I quit my job to be their caregiver and am living off of my savings. I'm not old enough for social security and am worried about the future.
Status: Open    Sep 11, 2014 - 02:02 AM

Finance, Caregiving

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Sep 23, 2015 - 12:11 PM

If either of your parents is a veteran, and either needs significant help with 'activities of daily living', look into the Veterans Aid & Attendance pension. They can pay you for care from their income, and they may in turn qualify for up to $2,054/monthy of additional income.

Make sure that you consult with a VA Accredited attorney or Agent before you file with the VA. They can advise you what steps should be taken before you help your parents file; otherwise, it is likely that their applicaton will be denied.

Sep 28, 2015 - 12:05 PM

Yes, you can get paid by your parents for providing care for them. You should have a contract that lays out the type of care to be provided and the rate you will charge. You should keep a careful accounting of your services and pay yourself at regular intervals.


Sep 21, 2014 - 01:00 AM

When I cared for my grandmother I was able to contact the IRS and they explained all of the rules and circumstances under which I could be paid. They also helped by emailing me the correct forms. If you are in doubt contact an experienced tax professional.

Nov 10, 2015 - 12:58 PM

Yes, and you should be. If they were veterans, if they are on Medicaid or if they have enough money to pay privately. Be sure to get this straightened out before you are in too deep. You know that "depression" generation, they are so tight with their money, they squeak when they walk!! Anyway, after caring for mother for 20+ years, going through my own savings and being rejected when the situation reversed, always expect the unexpected!! I wish you luck--I wish I had done things very differently but, like they say, live and learn.
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