For clients interested in a linked-benefit policy, “deductibility isn’t really something we discuss as most are not in a position to get a federal tax deduction anyway,” said Bruce Primeau, CPA/CFP and president at Summit Wealth Advocates, Prior Lake, Minn. “For our business-owner clients interested in purchasing LTC policies, the story is different as in some cases the premiums paid could be deductible without having to deal with the AGI limitations depending on the type of entity the business is operated under.”
Eisenberg also points out the deductibility available for any person being claimed as a tax dependent. “For example, if a child is financial responsible for an older parent and wants to pay for the LTCI policy, the potential exists that those premiums could be deductible,” he said.
 

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