A new online guide explains 2010 tax deductibility rules and limits for individuals and business owners purchasing long-term care insurance.
The information is offered by the American Association for Long-Term Care Insurance, the industry trade group.
"To encourage individuals and small business owners to purchase long-term care insurance the federal government and many states have started offering tax deductions and tax incentives,"
The new online guide explains tax rules for individuals as well as those who are self-employed or own small businesses. The applicable rules vary including limits for allowable tax deductions.
Tax-deductible limits for individuals can be as much as $4,110 per-individual starting in 2010 based on age. "Small business owners can take advantage of special tax rules that may make the full cost of long-term care insurance tax deductible,"
The guide's information providing federal tax deductibility limits and state-by-state deductibility rules can be viewed online on the Association's website: http://www.aaltci.org/
The American Association for Long-Term Care Insurance (http://www.aaltci.org) is the national association serving insurance and financial professionals who provide long-term care financing solutions. The organization is headquartered in Los Angeles, CA.
