Do you have long-term care insurance?
If you don’t, you really should consider getting some. Here’s why…
FACT #1: Between ages 40 and 50, on average, 8% of people have a disability that could require long-term care services
FACT #2: 70% of people turning age 65 can expect to use some form of long-term care during their lives
On a happier note, you should know that if you follow the right tax strategy, you can deduct a portion or all of the premiums!
To find out more about how Uncle Sam will help you prepare for rough times, read my new article titled Tax Tips: Don’t Pick the Wrong Way to Deduct Long-Term Care Insurance—This Could Cost You Thousands.
Three ways our fact-filled article can help you:
- We’ll explain all the types of deductions available to you. They come in three flavors and the trick is choosing the one that can save you thousands of dollars! We’ll help you make the right choice when you read the full article.
- You’ll learn the good news for C corporation owners. If you’re running a C corporation you’re in great shape. Your corporation can provide you with long-term care insurance as a tax-free employee benefit and deduct the expense on the corporate return! If you’re a sole proprietor or LLC owner, we’ve got good news for you too. You’ll get the details when you read the full article.
- We’ll tell you why deductions are available for qualified insurance only. To get your deduction, according to the tax law you must purchase “qualified” long-term insurance that satisfies four conditions. You’ll learn what they are when you read the full article.