Saturday, February 2, 2013

What should I use my gift cards on?

Q. I have a good amount of gift cards from a well known home furnishing store. My plastic containers fall out at me from the cabinets, as do my pots and pans. We have a small condo. I'd also like a metal trash can (which are expensive) or a nice toilet brush set. I love vacuum cleaners, but already have a Dyson and Hoover (so I think I don't need another?). We are expecting a baby next month too. What are some good items to get?
Does anyone have an ideas on what to use them for as far as decorating or remodeling the interior goes?
Bed Bath and Beyond doesn't have all those things. Their sister store might, but its too far.

A. Baby crib, mattress, blankets, clothes, bottles, formula, bottle sterilizer, potty, diapers, stroller, car seat....they do cost a lot, don't they.

Define Home Furnishing?
Q. How can you define "Home Furnishing"? Most internet dictionaries redirect this to furnishing and I can't find any definitions for it..thanks.

A. My opinion is anything that goes inside the home. This includes carpets, furniture and wall decor.

Can I claim my grandmother who is 70 year old and lives in a nursing home as a dependent?
Q. My grandmother is 70 and lives in a nursing home, I furnish all of the support for her, I paid over $12,000 for the nursing home, bought her a wheelchair, paid for her doctor's fees. Can I claim her as a dependent and deduct those expenses?

A. Yes. Provided, as it is very likely, that she ...

1) does not earn more than $3,650 gross income. In this case, if only social security, that does not count as gross income.

2) Including all her income, such as pensions and social security, you still provide over 50% support. As you say, you furnish all support.

You can deduct medical expenses on your tax return for a dependent, but not the entire cost of the nursing home. Ask them for a breakdown of the expenses, the room and board portion will not count. The other expenses, wheelchair, doctor fees, medications, etc. do count.




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