What are the new rules on required minimum distributions from IRAs and 401(k)s? I will be 72 this year and want to be clear on what I am required to do.

Under the SECURE 2.0 Act signed into law in December 2022, there are several new rules that affect required minimum distributions (RMDs) from traditional Individual Retirement Accounts (IRAs), 401(k)s and other tax-deferred retirement accounts. These changes, which build on the SECURE Act of 2019, are a benefit to retirees because they increase the RMD age and lower the penalty for failing to take a withdrawal. Here is what you should know.

New RMD Rules

As of January 1, 2023, the SECURE 2.0 Act increased the age for starting RMDs from 72 to 73. This is applicable to individuals turning 72 on or after January 1, 2023. In 2033, the starting age increases again to age 75. This change means that if you turn 72 on or after 2023, you can delay your RMDs one more year, allowing the funds in these accounts to grow tax-free for longer.

At age 73, you must start taking annual RMDs from the tax-deferred retirement accounts you own – traditional IRAs, SEP IRAs, SIMPLE IRAs, 401(k)s, 403(b)s and 457(b)s – and pay taxes on those withdrawals. Distributions are taxed as ordinary income based on your tax bracket.

There are, however, a few exceptions to the RMD requirement. Owners of Roth IRAs are not required to take a distribution unless the Roth IRA is inherited. Beginning in 2024, Roth RMDs will not be required for any Roth IRAs.

Furthermore, if you participate in a workplace retirement plan, work beyond age 73 and do not own 5% or more of the company, you can delay RMDs from a workplace retirement plan until the year you retire. However, if you have other non-work-related accounts, such as a traditional IRA or a 401(k) from a previous employer, you are still required to take RMDs from those accounts after age 73, even if you are still working.

Deadlines and Penalties

Generally, you must take your distribution every year by December 31 in order to avoid penalties. You can choose to delay taking your first distribution until April 1 of the year following the year you turn 73. Be cautious when delaying the first distribution, as it may push you into a higher tax bracket since the next distribution is to be made by December 31 of the same year.

Also, note that while you can always withdraw more than the required amount, you should not take less than the required amount. If you do not take out the minimum, you will be assessed with a 25% penalty (lowered from 50%) on the amount that you failed to withdraw along with the income tax you owe on it. This penalty drops to 10% if you take the necessary RMD by the end of the second year following the year it was due. Account owners should consult with their tax professionals for the required tax forms to be filed for the years in which the RMDs were required but not taken.

Distribution Amounts

Your RMD is calculated by dividing your tax-deferred retirement account balance as of December 31 of the previous year by an Internal Revenue Service (IRS) estimate of your life expectancy. A special rule applies if your spouse is the beneficiary and is more than 10 years younger than you.

IRA withdrawals must be calculated for each IRA you own, but you can withdraw the money from any IRA or combination of IRAs. 403(b) account totals may also be combined with IRAs for RMDs taken from any account or combination of accounts.

With 401(k) and 457(b) plans, however, you must calculate the RMD for each plan and withdraw the appropriate amount from each account. To calculate your RMD, you can use the worksheets on the IRS website, IRS.gov/Retirement-Plans and click on "Required Minimum Distributions." Alternatively, contact your IRA custodian or retirement-plan administrator who can do the calculations for you.

For more information, see the "Distributions from Individual Retirement Arrangements" (publication 590-B) at IRS.gov/pub/irs-pdf/p590b.pdf.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Living" book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization's official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.

My husband and I are interested in taking our two grandchildren on a big trip this summer. Can you recommend some travel companies that offer special travel packages for grandparents and grandchildren?

Grandparents traveling with their grandchildren have become a growing segment of the multigenerational travel industry. Not only is this type of travel fun but it is also a terrific way to strengthen generational bonds and create lasting memories.

To help with your traveling aspirations, there are several travel companies that offer specialized grandparent/grandchildren and multi-generational trip packages. This is a great option if you are looking for companies to plan everything for you. While most of the activities are planned for both grandparents and grandchildren to enjoy together, there are some individually planned activities as well.

Tours are available in various trip lengths and price ranges. They are designed for children between the ages of 6 to 18 and are usually scheduled during the summer or winter school breaks. Tours will cater to the interests and needs of both the grandparents and the grandchildren. Things to consider before choosing a tour are the types of activities offered, the physical abilities of the participants and the location and timing of the trip.

There are various companies and not-for-profit agencies that offer guided tours for multi-generational travel domestically and internationally. You may want to use your favorite search engine to find the companies, you may want to use key search terms such as "grandparent holiday tours" or other variations. You will want to look for well-established organizations and review the activities and accommodations within the particular package.

Travel Documents

Depending on where you go and your mode of transportation, you will need to gather some documents for your grandchildren to make sure everything goes smoothly. In general, most travel experts recommend you bring a notarized travel consent form (letter of permission from the parents) and a medical consent form in case of any emergencies. You should also bring copies of medical insurance cards.

If you are traveling domestically, airlines and trains do not require any form of identification for children under the age of 18 if they are traveling with an adult. If you are traveling to Mexico, Canada, Bermuda or other areas of the Caribbean by land or sea, those aged 15 and under may use a certified copy of their birth certificate. Passports are required for air travel to another country regardless of age. In addition, some countries require that your passport be valid for at least six months after your expected return date.

Some countries also require a visa for entry. Vaccinations may also be required in some cases. Before booking a trip, check the U.S. Department of State's website at Travel.State.Gov for country-specific information.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Living" book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization's official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.

As a retiree, I am interested in finding a part-time job that can occupy some of my time and generate a little extra income. Do you have any suggestions on what low-stress, part-time jobs are popular among retirees?

Working part-time in retirement can be a terrific way to stay active and supplement your income. However, the key is finding the right job that is fun and satisfying for you. While there are hundreds of different part-time job opportunities for retirees, here are a few possibilities to explore.

Pet services: If you love animals, consider pet sitting or dog walking. Pet sitters attend to a pet's needs when their owner is away and can earn around $20 to $30 per day depending on location. Dog walkers typically make $20 to $30 for a 30-minute walk.

To find these jobs, advertise your services in veterinarians' offices, social media or online classified advertising websites. There are also companies that offer an exclusive platform for connecting independent contractors to pet owners for pet care services. You can use your preferred online search engine to locate the available companies best suited for your needs.

Teach or tutor: Depending on your expertise or skill, you may be able to offer your services as a substitute teacher or tutor students privately. Substitute teachers typically make between $75 and $125 per day depending upon state, district, experience and certifications. Tutors can work either in person or online and earn between $18 to $21 per hour.

To find substitute teaching positions in your area, contact your local school district to see if they are hiring and what qualifications they require. To advertise tutoring services, look for companies that offer online platforms that specifically connect tutors with students. If you have a college degree, you may want to inquire about adjunct teaching at a nearby college or university.

Drive: If you like to drive, you can get paid to chauffeur others around using ridesharing apps or by becoming a food delivery driver. Drivers generally make around $15 to $25 per hour.

Day-care provider: If you are great with children, babysitting can be a fun way to put money in your pocket. Hourly rates vary by location, experience, age and number of children needing day-care. Rates can typically average around $21 per hour for one child. To find babysitting jobs or advertise your services, use your favorite online search engine for platforms that match families to caregivers.

Tour guide: If you live near any historical sites, national parks, museums or tourist attractions, inquire about becoming a tour guide. Tour guides earn anywhere from $10 to $23 per hour depending on your location.

Write or edit: Many media, corporate and nonprofit websites look for freelancers to write, edit or design content for them. The average pay for these jobs is around $20 per hour and can vary based on skill, type of content and the like. To find these positions, use your preferred online search engine to locate companies that provide access to job boards designed for freelancers.

Consult: If you have a lot of valuable expertise in a particular area, offer your services as a consultant through a firm or on your own through freelance websites.

Translator or interpreter: If you are fluent in more than one language, you may be qualified to be a part-time interpreter over the phone or translate documents or audio files. The rate for these positions ranges from $12 to $33 per hour depending on experience and languages known. You should search online for companies that offer translation services and check out their qualifications before joining as a translator.

Public events: Sporting events, festivals, concerts and shows need ticket collectors, security guards, ushers, concession workers and more. The pay for these jobs varies depending on the role. Contact nearby venues to inquire about what is available.

Tax preparer: If you have tax preparation experience or are willing to take a tax preparation course, you can find seasonal work preparing tax returns at big-box tax firms. Contact your nearest tax firm to see if they offer seasonal work.

Bookkeeper: If you have a finance or accounting background, you can find freelance bookkeeping jobs through several different websites.

Librarian assistant: If you love to read, public libraries hire part-time workers to shelve books, send out overdue notice and help patrons. Contact your local library to see what is available.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Living" book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization's official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.

What is the best way to go about choosing an assisted living facility for my parent? Their health has declined to the point that living at home is not an option anymore but my parent is not quite ready for a nursing home.

If your parent needs help with things like bathing, dressing, preparing meals, managing medications or just getting around, an assisted living facility is definitely a good option to consider. Assisted living facilities are residential communities that offer different levels of health or personal care services for seniors who want or need help with daily living.

There are nearly 29,000 assisted living communities, (also called board and care, supportive-care or residential-care facilities,) in the U.S. today, some of which are part of a retirement community or nursing home. Most facilities have anywhere between 10 and 100 suites, varying in size from a single room to a full apartment. Some even offer special memory care units for residents with dementia.

To help you choose a good assisted living facility for your parent, here are some steps to follow.

Make a list: There are several sources you can turn to for referrals to top assisted living communities in your area such as your parent's doctor or nearby hospital discharge planner, friends or neighbors who have had a loved one in assisted living and you can do your own online search.

Do some research: To research the communities on your list, call a long-term care ombudsman. This is a government official who investigates long-term care facility complaints and advocates for residents and their families. This person can help you find the latest health inspection reports on specific assisted living facilities and can tell you which ones have had complaints or other problems in the past.

Call the facilities: Once you have identified a few good assisted living facilities, call them to see if they have any vacancies, what they charge and if they provide the types of services your parent needs.

Tour your top choices: During your visit, take notice of a few key factors the facility has to offer. Is it homey and inviting? Does the staff seem responsive and kind to its residents? Also, be sure to taste the food and talk to the residents and their family members, if available. It is also a good idea to visit several times at different times of the day and different days of the week to get a broader perspective.

On your facility visit, get a copy of the admissions contract and the residence rules that outline the fees (and any extra charges), services and residents' rights, and explanations for when a resident might be asked to leave because their condition has worsened or they require more care than the facility can provide. Additionally, find out their staff turnover rate, COVID infection-control procedures and if and when medical professionals are on site.

How to pay: Monthly costs for assisted living ranges anywhere from $3,000 to $6,000 or more, depending on where you live, the facility you choose and the services provided. Since Medicare does not cover assisted living, most residents pay out-of-pocket from their own personal funds, and some have long-term care insurance policies.

If your parent has limited financial resources and cannot afford this, most states now have Medicaid waiver programs that help pay for assisted living. If your parent is a veteran, he or she may be able to get funds through the VA Aid and Attendance benefit. To find out about these programs, ask the assisted living facility director, or contact the local Medicaid office at Medicaid.gov or the regional VA benefit office at 800-827-1000.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Living" book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization's official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.

On March 28, 2023, the Internal Revenue Service (IRS) published a letter as part of its "Dirty Dozen series" warning taxpayers not to trust tax advice on social media. There are multiple claims on social media that filing certain IRS forms or documents allow a taxpayer to avoid reporting his or her actual income and receive a larger refund.

"There are many ways to get good tax information, including from a trusted tax professional, tax software and IRS.gov. But people should be incredibly wary about following advice being shared on social media," stated IRS Commissioner Danny Werfel. "The IRS continues to see a lot of inaccurate information that could get well-meaning taxpayers in trouble. People should remember that there is no secret way to fill out a form and simply get a larger refund that they are not entitled to. Remember, if it sounds too good to be true, it probably is."

Each year the IRS convenes a Security Summit that includes state tax agencies and many tax preparers. The Security Summit attempts to protect taxpayers by warning them against using strategies that lead to tax fraud.

1. Fraudulent Form Filing or False Advice — Social media can provide a vast diversity of information. However, some of the false advice will cause good taxpayers to potentially break the law. There are numerous tactics promoted by fraudsters and scammers. Many of these tax schemes will have catchy hashtags such as "#taxadvice" or "#taxtips." There are multiple strategies promoted that are not legitimate.
2. IRS Form 8944 Fraud — IRS Form 8944, Preparer e-file Hardship Waiver Request is intended to be used by qualified tax return preparers. It enables them to request a waiver for a taxpayer so the tax return may be filed on paper rather than through an electronic method. However, fraudsters claim that anyone can use this form to avoid paying taxes. The IRS warns taxpayers that filing a form with false or fraudulent information can lead to civil or even criminal penalties.
3. Form W-2 Fraud — Another scheme promoted widely on social media is to encourage taxpayers to manually complete IRS Form W-2, Wage and Tax Statement. The taxpayer creates a phantom employer, reports a large income and a substantial withholding amount. Next, the taxpayer files his or her return and claims a large refund. However, the IRS works directly with payroll companies, most large employers and the Social Security Administration. The IRS verifies W-2 information and is equipped to discover fraudulent forms.

The IRS warns taxpayers to be on the lookout for claims that are not likely to be true. The best way to learn how to properly fill out forms is to go to IRS.gov and search for information on the topic.

If a taxpayer discovers an abusive tax scheme, he or she should use IRS Form 14242-Report Suspected Abusive Tax Promotions or Preparers. You can mail this to IRS Lead Development Center, Stop MS5040, 24000 Avila Road, Laguna Niguel, CA 92677-3405.

Editor's Note: An estimated 79% of millennials or Gen Z members receive financial advice through social media. The "#taxadvice" or "#taxtips" hashtags have trended widely on TikTok and Twitter. These "advisors" claim to offer high-quality guidance from CPAs and other tax preparers. Taxpayers should be careful not to fall for these scams and only follow advice from trusted sources.

I am interested in donating my body to science after I die. What can you tell me about body donations and how do I start the process?

If you are looking to help the medical community, donating your body is an option to consider. While whole-body donations might not be for everyone based on cultural, personal or religious convictions, it can help advance science and eliminate funeral and burial costs.

Body Donations

It is estimated that approximately 20,000 people donate their whole body each year to medical facilities to be used in research projects, anatomy lessons and surgical training.

After completing their research, these facilities use environmentally friendly cremation procedures and intern the ashes in a local cemetery or return them to family. Bodies are usually cremated within one to three years of donation. Many facilities also hold an annual ceremony to thank donors and their families.

A donation of your body to science will have the benefit of avoiding funeral and burial costs. Facilities that accept body donations have policies that prohibit payment for the use of bodies. These policies are in accordance with federal and state laws.

Here are some other things that are important to consider that will help you determine whether whole-body donation is right for you:

Donation denial: Most body donation programs will not accept bodies over a certain weight or those that have infectious diseases like hepatitis, tuberculosis, HIV or MRSA. Bodies that have suffered extensive trauma will also not be accepted.

Organ donation: Most medical school programs require that you donate your whole body in its entirety. If you decide to donate specific organs (except for your corneas), you will likely not qualify to be a whole-body donor.

Religious considerations: Many religions permit individuals to donate both their full body and organs. If you are unsure or want further guidance, you should consult with your religious or spiritual advisor.

Special requests: Most programs will not allow you to donate your body for a specific purpose. After you give them your body, they will decide how to use it.

Memorial options: Most programs require the immediate transport of the body after death, so there is not an option for open casket at the funeral. If your family wants a memorial service, they can have one without the body. Some programs offer memorial services at their facility at a later date without the remains.

Body transporting: Most programs will be responsible for arranging and paying for transporting your body to their facility if you are within a certain distance. However, the program accepting your body may charge a transportation fee if the body is outside their area. In some cases, your family may be required to pay out of pocket to have your body transported but there may be partial reimbursement for the cost.

How to Proceed

If you want to donate your body, it is best to make arrangements in advance with a body donation program in your area. Most programs are offered through university-affiliated medical schools. To find one near you, the University of Florida College of Medicine's Anatomical Board maintains a website with a list of nationwide programs with contact information. If you do not have Internet access, you can get help by calling the whole-body donation referral service during business hours at 800-727-0700.

In addition to medical schools, there are private organizations that accept whole body donations. Some of these organizations may also allow organ and tissue donation.

Carefully research any donation organization you plan to use to ensure proper care and handling of your body. Once you locate a program in your area, carefully review how the organization handles donated bodies so that you fully understand how their program works.

Generally, to register as a donor, you must fill out consent forms, have the forms witnessed or notarized and then return the forms. If you change your mind later, you can contact the program and remove your name from their registration list. Some programs may ask that you make your withdrawal in writing.

After you have made any arrangements, you should tell your family members so they will know what to do and who to call after your death. It is also a good idea to tell your doctors so that your final wishes can be included in your medical record.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Living" book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization's official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.

On March 21, 2023, the Internal Revenue Service (IRS) published a warning to taxpayers to watch out for scammers using email or text messages. With the tax deadline of April 18 approaching, scammers are hard at work tricking taxpayers.

IRS Commissioner Danny Werfel noted, "Email and text scams are relentless, and scammers frequently use tax season as a way of tricking people. With people anxious to receive the latest information about a refund or other tax issue, scammers will regularly pose as the IRS, a state tax agency or others in the tax industry in emails and texts. People should be incredibly wary about unexpected messages like this that can be a trap, especially during filing season."

The IRS, state tax agencies and tax software companies all participate in the Security Summit. The Security Summit publishes warnings that are designed to reduce the vulnerability of taxpayers to identity theft. This warning focuses on both email and text frauds.

1. Phishing — Fraudsters will send emails to millions of taxpayers. The fraudster claims to represent the IRS, a state tax organization, a tax preparer or a financial firm. The emails may take many different forms. It may promise a phony tax refund. Another common strategy is to frighten the taxpayer by threatening false criminal charges for tax fraud if there is not an immediate response. All of these tricks are designed to enable scammers to make contact with the victim and obtain personal financial information.
2. Smishing — With the common usage of smartphones, a scammer may send millions of text messages that use similar techniques to their email tricks. The message might state, "Your account has now been put on hold," "Unusual Activity Report" or "Click For Solution." The links take the victim to the fraudster's website and an attempt is made to obtain the financial information of the taxpayer.

Scammers will use your financial information or sell it to other fraudsters who then file tax returns and claim improper tax refunds. The IRS cautions taxpayers that it generally makes an initial contact through regular mail. It states that it "will never initiate contact with taxpayers by email, text or social media regarding a bill or tax refund."

The IRS urges taxpayers to be cautious about clicking on unsolicited emails. A more sophisticated phishing strategy is to send three or four emails. After the relationship has been developed, the scammer sends the victim an email with the link that downloads malware.

Many of the latest scams include emails that claim to be from friends or family. A scammer monitors your email account to acquire information and sends an email that appears to be from someone you know. This has been an effective strategy to target both individuals and tax preparers. The final goal is always to obtain your financial information so they can file for a fraudulent refund.

An additional scam is currently popular. The scammer offers to provide "free help" in setting up an IRS Online Account. IRS Commissioner Danny Werfel noted, "Scammers are coming up with new ways all the time to try to steal information from taxpayers. An Online Account at IRS.gov can help taxpayers view important details about their tax situation. But scammers are trying to convince people they need help setting up an account. In reality, no help is needed. This is just a scam to obtain valuable and sensitive tax information that scammers will used to try stealing a refund."

If you are approached by someone who wants to provide help in setting up an IRS Online account at IRS.gov, you should use the IRS website yourself to set up the account. Do not allow a third party to help you set up your IRS Online Account.

If you think you received an email or text from a scammer, you can send the email or a copy of the text to phishing@IRS.gov. You should also include the caller ID, his or her email address or phone number, the date, time, and the number that receives a text message.

There is a "Report Phishing and Online Scams" page at IRS.gov with additional details.

I have been taking care of my elderly parent for over a year and it is affecting my finances since I can only work part-time. Are there any resources that can help family caregivers receive financial support?

Caring for an elderly parent can be challenging in many ways, but it can be financially difficult if you must miss work to provide care. Fortunately, there are several government programs and other tips that may help you receive financial assistance while you care for your parent. Here are some options to explore.

Medicaid Assistance

All 50 states and the District of Columbia offer self-directed Medicaid services for long-term care. These programs let states approve waivers to allow income-qualified individuals to manage their own long-term home-care services. In some states, that can include hiring a family member to provide care.

Benefits, coverage, eligibility and rules differ from state to state. Program names also vary: "consumer directed care" in one state, may be called "participant-directed services," "in-home supportive services" or "cash and counseling" in another. Contact your state Medicaid program to ask about its options and requirements.

Veterans Benefits

If your parent is a military veteran, there are several VA programs. The eligibility criteria will vary, but these programs provide financial assistance to family caregivers, including:

• Veteran-Directed Care: This program is available in most states and provides a needs-based monthly budget for long-term care services. The veteran manages their own budget and hires their own caregivers, which many include family members. (VA.gov/geriatrics/pages/Veteran-Directed_Care.asp)
• VA Aid & Attendance or Housebound Benefits: This program provides a monthly payment to veterans and their surviving spouses who receive a VA pension and who either need assistance with activities of daily living (i.e., bathing, dressing, going to the bathroom), or are housebound. (VA.gov/pension/aid-attendance-housebound)
• Program of Comprehensive Assistance for Family Caregivers: This program provides a monthly stipend to family members who serve as caregivers for veterans who need assistance with daily living activities resulting from an injury or illness sustained while in the line of duty. (Caregiver.va.gov/support/support_benefits.asp)

Other Alternatives

Find out if your parent has long-term care insurance that covers in-home care. Long-term care insurance pays primarily for assistance with everyday tasks and does not require a licensed health care professional to provide the services. Some policies will pay benefits for care rendered in an in-home setting. Contact your parent's insurance provider to see if you are eligible to make a claim.

Some additional options for financial support include having your parent pay you for the care you provide if they are financially able to do so. Another option is to have other family members provide help. Check with your family members to see if they would be able to help take care of your parent and allow you to work beyond part-time. Alternatively, your family may be able to pay for your time or other caregivers.

If your family agrees to offer financial support, consider drafting a written contract that details the terms of your work and payment arrangements. A contract sets out everyone's expectations and will also help avoid potential problems should your parent ever need to apply for Medicaid for nursing home care.

Tax Credits

There are also tax credits and deductions you may be eligible for as your parent's caregiver. For example, if your parent lives with you and you are paying at least half of your parent's living expenses, and your parent's gross income was less than $4,400 in 2022, not counting Social Security, you can claim your parent as a dependent on your taxes and potentially receive a maximum of $500 as a tax credit.

If you cannot claim your parent as a dependent, you may still be able to get a tax deduction if you are paying more than half of their living expenses including medical and long-term care costs, and those expenses exceed 7.5% of your adjusted gross income. You can include your own medical expenses in calculating the total. To see which medical expenses you can deduct, see IRS Publication 502 at IRS.gov/pub/irs-pdf/p502.pdf.

Furthermore, if you are paying for in-home care or adult day care for your parent to allow you to work, you may qualify for the Dependent Care Tax Credit. Depending on your income, this credit may be worth as much as $1,050. To claim this credit, you will need to fill out IRS Form 2441 (IRS.gov/pub/irs-pdf/f2441.pdf) when you file your federal return.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Living" book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization's official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.