4: Tax Implications for Seniors

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In this episode of Healthcare Redefined: Advocating for Aging Adults and Their Families, hosts Pam Dunwald and Linda Kritikos continue their series on getting your affairs in order with a conversation many families avoid until they’re forced to face it: taxes. Joined by Enrolled Agent and tax professional Megan Steinfeld of Cream City Accounting, they discuss what happens when retirement, widowhood, caregiving, or the death of a loved one suddenly leaves someone responsible for tax matters they haven’t handled before. Megan shares why tax issues often feel overwhelming, what families commonly miss when stepping into a parent’s financial world, and how a little preparation today can prevent confusion and stress later.

Throughout the conversation, Megan offers practical guidance and peace of mind for aging adults and family caregivers. She explains that most tax mistakes are fixable, why IRS notices are not always bad news, and how families can stay ahead of problems by organizing documents, understanding income sources, and knowing where important records are kept. Whether you’re helping an aging parent, preparing your spouse for the future, or simply trying to get your own affairs in order, this episode provides clear, approachable advice to help you feel more confident and prepared when tax responsibilities inevitably become part of the caregiving journey.


Key Moments:

00:00 – Why Tax Planning Matters for Aging Adults
Pam and Linda introduce the importance of tax preparation, financial organization, and reducing family stress.

02:31 – Meet Megan Steinfeld, Enrolled Agent
Megan explains her background and what it means to be an IRS-authorized Enrolled Agent.


04:37 – How Retirement Changes Your Tax Situation
Understanding Social Security, pensions, retirement accounts, investments, and tax withholding.

06:25 – Common Tax Mistakes Families Make
Why moving too quickly or filing with incomplete information can create problems.

08:20 – Can Tax Mistakes Be Fixed?
Megan shares reassuring news about correcting errors and responding to IRS notices.

09:53 – Do Seniors Still Need to File Taxes?
How age alone does not determine filing requirements, and what factors matter most.

11:08 – Identity Theft Protection for Older Adults
Why filing returns and using IRS Identity Protection PINs can help prevent fraud.

13:06 – Working During Retirement
How part-time employment can affect Social Security taxation and overall tax liability.

15:04 – When to Seek Professional Tax Help
Red flags include IRS notices, inherited assets, home sales, and the loss of a spouse.


20:24 – Special Tax Considerations for Seniors
Enhanced deductions, filing thresholds, and changes were introduced for older taxpayers.

22:11 – Organizing Tax Documents Before a Crisis
Simple systems for tracking tax forms, online accounts, and financial records.


25:00 – Selling a Home or Moving to Senior Living
Potential tax implications, deductions, and common recordkeeping challenges.


27:20 – What Happens When a Parent Passes Away?
Estate returns, trust considerations, and understanding the step-up in basis.


29:17 – Tax Myths Families Need to Stop Believing
Why retirement does not automatically eliminate taxes or filing obligations.


32:45 – Three Steps to Get Organized Today
Practical actions aging adults and caregivers can take immediately.

38:29 – Handling Taxes After the Death of a Loved One
How adult children can verify filing status, retrieve records, and manage final returns.


42:12 – What If Taxes Haven’t Been Filed for Years?
Megan explains how families can get back on track and create a manageable action plan.

About Megan Hawley-Steinfeld, EA: 

Megan Steinfeld is an Enrolled Agent (EA) and owner of Cream City Accounting. As a federally licensed tax professional authorized directly by the IRS, Megan specializes exclusively in taxation, tax planning, and taxpayer representation. With more than a decade of experience, she helps individuals, families, and business owners navigate complex tax situations with confidence and clarity. Megan is passionate about information literacy and helping people understand tax topics that often feel overwhelming, especially during major life transitions.

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Resources Mentioned in This Episode: 

  • As always, for more support, join us for our weekly free newsletter “Senior Saturday.”  Your weekly dose of tips, strategies, support, and education to help you best care for your aging loved ones. 
  • IRS Identity Protection PIN Program
  • IRS Resources on Tax Forms and Filing Requirements for Seniors

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Contact Pam Dunwald & Linda Kritikos | Your Nurse Advocate Consulting: 

Contact Megan Steinfeld:

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