Many individuals already retired are just now looking at the tremendous value of having long term care insurance. But you can always start a self employed business at home, and then take the allowable tax write-off before computing taxes. Federal legislation is currently in the mill that proposes to give every American a discount on the insurance equal to his or her marginal tax bracket. This would provide above the line tax deductibility for private long term care insurance premium payments. There is also strong support for a proposal to assist current long term caregivers with a tax credit or to classify this assistance as an additional exemption.
Many people insure their homes, health and vehicles.
Smart planners protect their nest egg. You should do the same. The Kansas Times. All rights reserved.