Aging Options

Two Tax Court Decisions Clarify When Long-Term Care Expenses Are Deductible

Long-term care can be very expensive, but many long-term care expenses can be deducted from your taxes. Two important recent decisions by the U.S. Tax Court provide guidance on when caregiving services are deductible. In one decision, the court ruled that payments to non-medical caregivers are still deductible as medical expenses; in the other, the … Read more

Long Term Care for Senior Veterans

In the year 1919 President Woodrow Wilson proclaimed November 11 as Armistice Day to honor those Veterans who served during World War I. On November 11, 1954, Armistice Day was proclaimed a legal national holiday and the name was changed to “Veterans Day” to honor all veterans of all wars. Every November 11, ceremonies are … Read more

Insuring Your Retirement Funds

It might sound strange to be told to insure your retirement funds, but after working hard and diligently saving all that money, wouldn’t you want to make sure that the funds will be there for you when you need them? As you move into retirement, you are also moving towards age-related health problems. Events beyond … Read more

Misconceptions About Who Pays for Long Term Care

A large majority of the American public still believes that the government will provide long termcare when needed. It is this misconception that most likely prevents people from doing any planning at a younger age for the future need for care. According to the National Care Planning Council, (www.longtermcarelink.net) many people believe they can give … Read more

The Tax Deductibility of Long-Term Care Insurance Premiums

Qualified long-term care insurance policies receive special tax treatment. To be “qualified,” policies must adhere to regulations established by the National Association of Insurance Commissioners. Among the requirements are that the policy must offer the consumer the options of “inflation” and “nonforfeiture” protection, although the consumer can choose not to purchase these features. The policies … Read more

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