2016 Long Term Care Insurance Tax Guide Published by AALTCI
The 2016 guide to long-term care insurance tax deductible rules and benefits is being made available today from members of the American Association for Long-Term Care Insurance.
Los Angeles, CA, March 31, 2016 --(PR.com)-- Few consumers realize that long term care insurance premiums may be tax deductible and that special tax advantages are available for business owners advises the head of the American Association for Long-Term Care Insurance.
"Tax deductible long term care insurance is a significant benefit available to millions," shares Jesse Slome, executive director of the American Association for Long-Term Care Insurance (AALTCI). "Few people are aware of the rules or the amounts that may be deductible."
The Association announced availability of i's 2016 Guide To Tax Qualified Long Term Care Insurance Protection. Electronic versions of the guides can be requested from Association members.
"In 2016, a 65-year old may be able to deduct up to $3,900 of the cost for long-term care insurance," Slome explains. "Individuals have to meet certain thresholds for allowable medically-related deductions but after retirement, this becomes much easier to do and the tax savings can be quite significant to a retired individual or couple."
Business owners have greater latitude in their ability to deduct long term care insurance costs. "Tax deductible long-term care insurance is one of the last great tax deductible benefits for owners and their key employees," Slome adds. "Small businesses with owners in their 50s and 60s that are looking for tax deductions should definitely consider long term care insurance protection."
The American Association for Long Term Care Insurance (AALTCI) is a national trade organization promotes sound and affordable planning for Americans. To obtain long term care insurance cost comparisons from a designated professional call (818) 597-3227 or visit the organization's website at www.aaltci.org.
"Tax deductible long term care insurance is a significant benefit available to millions," shares Jesse Slome, executive director of the American Association for Long-Term Care Insurance (AALTCI). "Few people are aware of the rules or the amounts that may be deductible."
The Association announced availability of i's 2016 Guide To Tax Qualified Long Term Care Insurance Protection. Electronic versions of the guides can be requested from Association members.
"In 2016, a 65-year old may be able to deduct up to $3,900 of the cost for long-term care insurance," Slome explains. "Individuals have to meet certain thresholds for allowable medically-related deductions but after retirement, this becomes much easier to do and the tax savings can be quite significant to a retired individual or couple."
Business owners have greater latitude in their ability to deduct long term care insurance costs. "Tax deductible long-term care insurance is one of the last great tax deductible benefits for owners and their key employees," Slome adds. "Small businesses with owners in their 50s and 60s that are looking for tax deductions should definitely consider long term care insurance protection."
The American Association for Long Term Care Insurance (AALTCI) is a national trade organization promotes sound and affordable planning for Americans. To obtain long term care insurance cost comparisons from a designated professional call (818) 597-3227 or visit the organization's website at www.aaltci.org.
Contact
American Association for Long-Term Care Insurance
Jesse Slome
818-597-3205
www.aaltci.org
Jesse Slome
818-597-3205
www.aaltci.org
Contact
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