Hawaii HB701 establishes a refundable tax credit for family caregivers.

Hawaii HB701 introduces a refundable tax credit for family caregivers, up to $5,000 per year. Eligible taxpayers can claim this credit if they provide care to a care recipient who meets specific criteria, such as having a federal adjusted gross income of $75,000 or less. Qualified expenses include costs related to home modifications, personal care, transportation, and other caregiving-related expenditures. The Department of Taxation will prepare necessary forms and may require information to verify claims.

Hawaii HB701 establishes a refundable tax credit for family caregivers.

Hawaii HB701 introduces a refundable tax credit for family caregivers, up to $5,000 per year. Eligible taxpayers can claim this credit if they provide care to a care recipient who meets specific criteria, such as having a federal adjusted gross income of $75,000 or less. Qualified expenses include costs related to home modifications, personal care, transportation, and other caregiving-related expenditures. The Department of Taxation will prepare necessary forms and may require information to verify claims.