S.145

New Jersey S145 provides a gross income tax deduction for senior citizens and disabled individuals for certain medical expenses and funeral costs.

New Jersey S145 allows a gross income tax deduction for senior citizens and disabled individuals for unreimbursed medical expenses related to in-home care, assisted living, and long-term care facilities, up to $50,000. It also provides a deduction for funeral expenses for the taxpayer's spouse or dependents who were 62 years of age or older, blind, or disabled at the time of death, up to $50,000. This deduction aims to alleviate the financial burden on elderly and disabled taxpayers who use their savings to cover these expenses.