March 2017
New guide shows the government tax incentives to own a long term care policy Individuals, business owners and human resource professionals who want an understanding of both federal tax incentives as well as state incentives will want to have the 8-page guide “Tax Breaks & Incentives for Long Term Care Insurance.” Updated for 2017, it […]
August 2016
Below are 4 ways that can make long term care insurance more affordable through tax-advantages: Tax-free withdrawals from an HSA (health savings account). Deduct long-term-care premiums as a medical expense. Make a tax-free transfer from an annuity. Make a tax-free transfer from permanent life insurance. For the full article and more information on these tax-friendly […]
October 2015
For self-employed individuals, including LLC, PA, S-corporations and partnerships, the 2% or more owners of these entities can deduct 100% of the eligible (age indexed) LTCI premiums paid on their behalf, their spouses and dependents for Tax Qualified LTCI policies. Please refer to the age indexed chart below for eligible premiums. Premiums paid on behalf […]
October 2015
In 1997, the federal government began offering tax incentives to reward people for buying long-term care insurance, including tax-qualified policies. Congress created tax-qualified policies to encourage consumers and insurance companies to embrace long-term care insurance. Under a tax-qualified policy, insurance premiums qualify as itemized deductions on federal tax returns. Additionally, benefits from a qualified policy […]
