You are receiving this eNewsletter because you have told Ray Smith, The Long Term Care Specialist that you want to. If you do not wish to receive future monthly issues, please click on "Safe Unsubscribe" at the bottom of this page and your name will be removed from our distribution list.
Disclaimer: This eNewsletter and all links to other sources should not be construed as tax or legal advice because it is not either. Raymond Smith, The Long Term Care Specialist, does not give legal or tax advice. Consult your tax advisor or attorney for these matters.
As The Long Term Care Specialist, I hope that you and yours have much to be thankful for: and I am sure that you do. Best wishes for a happy and meaningful Thanksgiving...and Hannukah for all my Jewish friends.
Have you ever wondered how wealthy someone needs to be for long term care insurance to no longer make sense? Read my "Open Letter to Bill Gates" to find out.
An Open Letter To Bill Gates
Dear Bill,
Do you and Melinda own long term care insurance? If you do, congratulations for having made yet another good business decision. If not, then you should. Here is why: Read More
2014 Long Term Care Insurance Tax Summary
The maximum deductible premium amounts are adjusted each year. Can you deduct premiums? The answer is simple: If you have self-employment income, you can usually deduct at least some of your premiums. If you do not have self-employment income, then you usually cannot. Special rules apply to owner-employees of "C" (regular) corporations. See 2014 One Page Tax Summary
A plan to pay for Long Term Care services is not a financial plan. But a financial plan that does not address long term care can not be a complete financial plan.
Sincerely,
Ray Smith
Raymond Smith, CLU, CLTC, MBA The Long Term Care Specialist
Planning for Long Term Care
