Long Term Care Insurance Is Tax Deductible for Business Owners

By now most people, when planning for their “Golden Years”, know that they need to consider the possibility that they may need long-term care at some point in time, and that long-term care insurance is a logical option for this purpose. What most people don’t know is that if you are self-employed or own your own business the cost of your insurance premiums could be tax deductible.

A recent article in Forbes reveals that “self-employed folks with business income that passes through onto their personal returns… can deduct 100% of the premiums paid for themselves (and spouse) as a business expense, just like health insurance. These folks are still subject to the age-related premium limits, but that doesn’t necessarily limit [their] deduction.”

This could be a HUGE incentive for self-employed business owners who tend to lag behind their traditionally-employed counterparts in saving for future retirement expenses. It’s not that business owners are less concerned about their futures than their peers, but that as entrepreneurs struggle to get their small business off the ground in the early years they are more likely to put any extra income back into their business, rather than investing it for retirement. This tax-deduction for long-term care insurance can be just what entrepreneurs need to put them back on equal footing.

In today’s economy traditional employees and entrepreneurs alike need all the help they can get saving for the future and protecting the assets they have. To find out more about this, or other strategies to prepare yourself and your family for what we hope will be a long and prosperous retirement, please contact our office.

To be happy it is vital to be wholesome. How can remedies help up? To purchase medicaments online from a respectable web-site is safe. Many medicines are used to treat inability to get an hard-on. Kamagra is a therapy set to treat variant infections. What do you know about buy kamagra online? Conceivably you know about kamagra shop More info about Kamagra available at http://kamagra-online24.com/100mg.html. Medicaments, no doubts, is going to improve your life. Usually, having nuisance getting an erection can be awkward. Certain remedies are not suitable for patients with some conditions, and occasionally a physic may only be used if extra care is taken. If you experiment any other symptoms which you think may be due to this remedy, speak with your physician.