Tax Deduction Often Overlooked - Long Term Care Insurance
wtorek, grudzień 16th, 2008KIRKLAND, Wash., Dec. 16 (SEND2PRESS NEWSWIRE) — Want to keep some of your tax money or get a bigger refund? Then remember, if you have long term care insurance, that deductions are allowed for the premiums you pay. If you don’t have long term care insurance but intend to get it, remember the tax break that will be due you for 2009. This reminder comes from LTC Financial Partners LLC (LTCFP), one of the nation’s most experienced long term care insurance agencies.
“Many people with LTC policies don’t realize they can deduct hundreds or even thousands of dollars,” says Cameron Truesdell, CEO of LTCFP. According to the Internal Revenue Service, the amounts deductible as medical expenses in 2008 can be as high as –
* $3,850 if you’re 70 or over
* $3,080 if you’re over 60 but not over 70
* $1,150 if you’re over 50 but not over 60
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