“be sure to check out your eligibility. And don’t neglect to make your claim.” What if you’re just thinking about getting a policy? “Take the tax angle into account

r.”   For those who qualify, deductions can be sizeable, and they recur year after year. For the taxable year beginning in 2017, the limitations under Section 213(d)(10) of the IRS tax code, regarding eligible long-term care premiums includible in the term “medical care,” are as follows: Attained Age Before […]

A Tax Break for Long-Term Care Insurance Premiums? “Yes, If ...

 in Avoid losing your Retirement Money from a Nursing Home and Medicaid Spend Down / Education of Long Term Care Insurance  tagged — Thinking of getting long-term care insurance? Or already have a policy? “Remember / “be sure to check out your eligibility. And don’t neglect to make your claim.” What if you’re just thinking about getting a policy? “Take the tax angle into account / “You may qualify for a federal tax deduction of hundreds to thousands of dollars per year.” For those who qualify / ” are as follows: Attained Age Before Close of 2017 Taxable Year / Limitation on Premiums • 40 or less: $410 • More than 40 but not more than 50: $770 • More than 50 but not more than 60; $1 / ” Robinson says. “Find out if Uncle Sam might / ” says Robinson / 090 • More than 70: $5 / 110 “If you already have a policy / 530 • More than 60 but not more than 70: $4 / and they recur year after year. For the taxable year beginning in 2017 / deductions can be sizeable / in effect / regarding eligible long-term care premiums includible in the term “medical care / Says Les Robinson of LESLTC / some of the expense may be deductible / the limitations under Section 213(d)(10) of the IRS tax code by