Long Term Care Insurance for Business Owners and Executives: Tax Benefits Often Overlooked
Welcome Relief for the Hard-Pressed Business Sector
KIRKLAND, Wash., Feb. 24 (SEND2PRESS NEWSWIRE) — For people in business, there’s good news on the long term healthcare front. They can often insure themselves for less, thanks to favorable tax legislation. “Most owners or executives can use company dollars for a tax-deductible plan for themselves, their spouse, and dependents,” says Denise Gott, Chairman of the Board of LTC Financial Partners LLC (LTCFP), one of America’s most experienced long term care insurance agencies. “This is huge, but most business people miss out for lack of knowledge.”
For millions of owners and executives, the dollar savings are threefold (when all conditions are met):
(1) The LTC policy is paid for, often completely, using company funds; and the payments are treated as a tax-deductible business expense.
(2) The premiums are not usually added to the business person’s income (with some exceptions), adding no personal tax liability when the conditions [...]
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