Posted Monday, June 6, 2022
A bill allowing older adults to deduct home-modification expenses from their taxes was introduced in Washington, D.C. last week. The bill would allow for adults aging in place to offset the costs associated with making modifications to their homes through early retirement withdrawals and a lifetime tax deduction of up to $30,000.
Already, home care industry leaders and home-modification stakeholders are heralding the bill as a major step forward.
“The preparation needed to make homes more safe and accessible include repairing uneven floor surfaces, adding brighter lighting, adding railings to stairs, widening doorways and raising countertops,” Scott Dingfield, director of communications for Right at Home, said in an email to Home Health Care News. “The Act will help these modifications to be less costly, and ultimately, make it easier for older adults to move around their home more safely.”
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