Since a senior's income might be $2000 per month and they have bills to pay, a live-in caregiver might be paid $700 per month. I have taken as little as $600/mo and no more than $1200. Although I have heard of people in affluent areas making $4000/mo. If you need 24/7, your best bet is to hire a live-in.
Although the IRS's statute of limitations for an audit is three years, tax experts recommend that you retain all tax records for seven years in the event that there are questions about the deceased person's final return.In addition, each state has its own requirements.hich Records to Keep. Additional records besides the deceased's final tax return need to be retained. A quick list of items to keep 1  : Paper copies of pay stubs, insurance policy statements, credit card statements, bank and investment statements and receipts that aren't tied to deductions can be shredded after one year.
Length of time to keep, and why: Taxes Returns Canceled checks/receipts (alimony, charitable contributions, mortgage interest and retirement plan contributions) Records for tax deductions taken. Length of time to keep, and why: Seven years. The IRS has three years from your filing date to audit your return if it suspects good-faith errors. The three-year deadline also applies if you discover a mistake in your return and decide to file an amended return to claim a refund.