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Our firm has worked with hundreds of folks who are interested in learning how to legally protect what they spent their lives building –so that they would be taken care of in the golden years and still be able to pass on to their children part of their nest egg without having to spend it all on nursing home care.

This is what we do in the elder law practice: WORK WITH FOLKS WHO ARE INTERESTED IN LEGALLY PROTECTING THEIR ASSETS IF TRAGEDY STRIKES. If we can be of assistance to you and your family, that would be our privilege.

 

IRS Issues Long-Term Care Premium Deductibility Limits for 2021

October 29, 2020

The Internal Revenue Service (IRS) has announced the amount taxpayers can deduct from their 2021 income as a result of buying long-term care insurance. Premiums for “qualified” long-term care insurance policies (see explanation below) are tax deductible to the extent that they, along with other unreimbursed medical expenses (including Medicare premiums), exceed 10 percent of…

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