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.
Financial experts suggest that records be held for an additional two to three years in case there are questions about the deceasedâs final return. Keep proof of income and expenses for the same time you keep the tax return. For income, this includes W-2s, 1099s, bank or brokerage statements and K-1s.