New Article: The Right Way for Small Business Owners To Deduct Long-Term Care Insurance

WASHINGTON - Aug. 5, 2015 - PRLog -- If you own a small business and don't have long-term care insurance, you really should consider getting some.

Why? Between the ages 40 and 50, on average, 8% of people have a disability that could require long-term care services. Additionally, 70% of people turning age 65 can expect to use some form of long-term care during their lives.

And disability care bears a heavy price tag. According to the U.S. Department of Health and Human Services, the average cost of a private room in a nursing home in 2010 was $6,965 per month.

Medicare covers very few of these costs, and Medicaid covers only low-income individuals with few assets.

But there's a great way to protect yourself: Buy long-term care insurance, follow the correct tax deduction strategy, and deduct a portion—or all—of the premiums. The key is selecting the right tax strategy.

The Bradford Tax Institute (http://www.bradfordtaxinstitute.com/pr) in Washington, DC has just released a new article on this topic. "Don't Pick the Wrong Way to Deduct Long-Term Care Insurance—This Could Cost You Thousands" explains:

—How to pick the deduction type that saves you the most money on your long-term care insurance

—Why C corporation owners are in a particularly good position when it comes to deducting long-term care insurance (and why there's still good news on this front for sole proprietors and LLC owners, too)

—An example that shows how doing it the wrong way can turn $11,571 worth of expenses into a paltry $1 tax deduction

Click here (http://www.bradfordtaxinstitute.com/PR/?SendTo=/Content_q...) to read the full article and get a free, no-obligation 7-day trial to all of the tax-saving tips offered by the Bradford Tax Institute. "This trial is absolutely free and there are no strings attached," says W. Murray Bradford, CPA, President of the Bradford Tax Institute. "That's a personal promise."

W. Murray Bradford, CPA, is the nation's pre-eminent tax reduction expert, with more than 30 years' experience helping tax advisors, one-owner businesses, and husband-and-wife businesses reduce their income taxes. He has helped over 500,000 one-owner businesses and self-employed professionals save an average of $17,700 in new tax deductions.