Comments on: Long Term Care Insurance May be Federal Income Tax Deductible

By: Evan

Evan — Mon, 11 Jan 2010 21:53:12 +0000

EoW,

Unlike the usual problems I run into on a day to day basis at work, I don’t have a particular example in mind when I speak of tax advisors failing to utilize this deduction.

But I wouldn’t be suprised (as I say above) if there are a tons of CPAs who miss it.

By: EOW

EOW — Mon, 11 Jan 2010 15:46:31 +0000

That deductions has been there in past years as well. 2010 was a 3% increase from 2009. Depending on their situation it should be brought up in a discussion with their tax professional. A good question to ask is why the tax professional didn’t bring this to their attention?

By: Evan

Evan — Fri, 08 Jan 2010 00:18:00 +0000

I am curious as to how many people fail to take that deduction?

I think the big one for people would be the business owner putting LTCi through the business for an employee-spouse (doesn’t work wtih S-Corps).

By: Financial Samurai

Financial Samurai — Thu, 07 Jan 2010 23:03:33 +0000

Will be exciting to get that deduction, for my parent’s sake. No brainer.