Tax Advisor Barry G. Fowler, Talks About New Tax Implications for Employers of Caregivers
Barry G. Fowler, EA, leading expert in tax resolution issues and CEO of Taxation Solutions, speaks to the millions of Baby Boomers now caring for elderly parents and the elimination of the “companion” designation that allowed greater leeway at tax time.
Houston, TX – October 6, 2015 – Barry G. Fowler, CEO of Taxation Solutions, posted a new article entitled “The Fate of Family Employers of Caregivers at Tax Time.” The IRS is catching up with specific nomenclature that has been used by families to employ caregivers just as the Baby Boomer generation is retiring in record numbers.
According to Mr. Fowler, “We are smack in the middle of the Baby Boomer generation’s arrival into retirement age. What that means is that for years to come a huge portion of the population is tending to the needs of their aging parents and/or having to hire caregivers to help out.”
Fowler adds, “This time of life can get pretty complicated when it comes to taxes. Depending on who is paid to care for aging parents, whether a family member such as a college-attending caregiver, hired domestic workers or a third party service, the IRS wants their cut!”
The entire article can be read at https://www.taxationsolutions.net/the-fate-of-family-employers-of-caregivers-at-tax-time/
About Barry G. Fowler, EA
Barry G. Fowler founded Taxation Solutions out of a genuine concern for the IRS issues his clients face, many of whom are self-employed, contract employees, or entrepreneurs. For his contributions to his profession and expertise in tax resolution and financial planning, Fowler has been featured as one of America’s Trendsetters on CBS and Yahoo, and as a Premier Expert in Inc. Magazine. He has been instrumental in helping hundreds of people resolve complex tax issues with the IRS.
Fowler is licensed to represent taxpayers before the Internal Revenue Service, and is a longstanding member of several tax industry professional organizations: NAEA, NATP, TSEA, ASTPS.