3/17/2010 1:04:18 PM
Your long-term care insurance may be tax deductible!
Did you know that the cost of long-term care insurance might be deductible to individuals, with deductable limits increasing each year? Business owners may be able to deduct 100 percent of the cost for themselves, their spouses and even parents who work for the business. In addition, a growing number of states now offer tax deductions or tax credits for the purchase of long-term care insurance, which can significantly reduce costs. For a comprehensive explanation of the current limits, visit the American Association for Long-Term Care Insurance. Want to learn more about legal and financial planning for seniors? Take a look at the Guide to Legal and Financial Planning from Homewatch CareGivers.
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