New Jersey S572 provides a gross income tax credit for caregivers of qualifying senior family members.
New Jersey S572, known as the Caregiver's Assistance Act, offers a gross income tax credit for certain expenses related to the care and support of a qualifying senior family member. The credit is equal to 22.5 percent of up to $3,000 in qualified care expenses, with a maximum credit of $675 per year. To qualify, the caregiver must have gross income not exceeding $100,000 for joint filers or $50,000 for others.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.