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.
1 Typically, the IRS can come after your business for failing to report income for up to 6 years after your filing if the amount is greater than 25% of your businessâs gross income. 2  If you filed for a deduction for a bad debt or worthless security, the IRS suggests you keep your supporting tax records for 7 years.ere are some basic record retention rules to think about for your business. 1  Business Income Tax Returns and Supporting Documents. 2  It makes sense to keep a final copy of your business income tax returns and related correspondence with the IRS permanently to help you prepare future or amended returns.