Long-Term Care Insurance has many tax benefits that help American families plan for the financial costs and burdens of aging. The IRS has released the 2020 deduction limits for individuals and business owners.
28 states offer some type of tax credit or deduction for Long-Term Care Insurance. A new measure introduced by a Nebraska state senator would provide a new tax credit for Nebraskans as they plan for Long-Term Care.
Individuals and businesses can take advantage of special tax treatment of Long-Term Care Insurance policies. This makes it even more affordable to safeguard future retirement income & assets from high costs of extended care.
The Internal Revenue Service has announced the 2016 tax deductible limits for Long-Term Care Insurance. Many state and federal tax advantages are available to help consumers make affordable LTC insurance part of their retirement.