|
|
Long-Term Care Tax Reminder from LTC Financial Partners
Fri, 09 Dec 2005, 12:12:00 EDT
Edited by Christopher Simmons
Lucrative Deductions May Be Available if You Have LTC Insurance, or Plan to Get It
KIRKLAND, WA (SEND2PRESS NEWSWIRE) -- One of the biggest overlooked sources of tax breaks is long-term care insurance, according to LTC Financial Partners LLC, the nation's leading agent-owned LTC insurance brokerage. Premiums for tax-qualified policies are deductible as personal medical expenses for taxpayers who itemize, with 2005 amounts ranging from $270 to $3,400 per person, based on age. Some states offer additional deductions or tax credits on state returns.
 "It's time to check with your financial adviser, or start planning for tax savings next year," says Cameron Truesdell, CEO. For businesses, executive carve-out plans offer these advantages:
* The company can deduct the cost of LTC premiums.
* Long-term care insurance is not subject to discrimination testing, which allows an employer to "carve-out" selected key employees.
* The total premium paid by the employer for an executive's coverage is not included in the executive's taxable income (with some exceptions).
* Benefits paid to an executive from a tax-qualified policy are generally tax free.
"If a company is sitting on retained earnings, now may be the time to put some of it to good use," says Truesdell.
This reminder is an interpretation of current law and is not intended as legal or tax advice. "We recommend checking with your legal or tax professional," says Truesdell. As long-term care insurance specialists, the partners of LTC Financial Partners work with financial advisers across the nation, often in conjunction with financial institutions and associations.
Detailed information, based on state of residence and other factors, is offered free of charge to companies, the general public, and financial advisers: www.eranova.com/LTCFP/tax-reminder.htm
LTC Financial Partners LLC offers policies from multiple carriers, including MedAmerica, MetLife, John Hancock, Physicians Mutual, Prudential, Allianz, UnumProvident, and Penn Treaty. LTCFP was founded in April, 2003 by Cameron Truesdell and Craig Smith, who were both principals of LTC Inc., a pioneering brokerage in the long-term care field. That company was sold to GE Capital.
*(Photo Caption: Photo of Cameron Truesdell.)
NEWS SOURCE: LTC Financial Partners LLC
Send2Press® is the originating wire service for this story. Terms of Use
THE CONTENT OF THE ABOVE PRESS RELEASE WAS PROVIDED BY THE NEWS SOURCE (LTC Financial Partners LLC), WHO IS SOLELY RESPONSIBLE FOR ITS ACCURACY. FOR QUESTIONS ABOUT THIS STORY CONTACT THE NEWS SOURCE AND NOT THIS WEBSITE.
JOURNALIST RESOURCES:
INCLUDING ORIGINAL PRESS RELEASE AND MEDIA CONTACT(S)
Latest News from Send2Press Newswire:
Additional News on Similar Topics:
|
Additional Related News from
LTC Financial Partners LLC
Reader Resources
Share or Save Story with Bookmarks
Use one of the link buttons, below, to save, share, or bookmark this page for friends and/or future reference.
|
Subscribe Using Popular Social Tools
Use these tools to "subscribe" to the Send2Press Newswire feed of daily news content.
Choose RSS Feeds by News Topic
|
Main Send2Press® News Channels
Free News Feeds for Your Blog or Website!
Add news like this to your website with one click.
Simple Javascript copy-paste, or full RSS 2.0,
or Wordpress plugin.
Best of all, it's totally FREE!
Choose from city, state, or industry topics (over 300!). Most main topics updated weekly including business, entertainment and technology news.
CLICK HERE to LEARN MORE
|
|
| |
| | U.S. and World News |
| | Advertising and Marketing |
| | Aerospace and Aviation |
| | Agriculture and Farming |
| | Apple, Mac, iPod and iPhone |
| | Auction and Online Auctions |
| | Auto and Motorsports |
| | Banking and Finance |
| | Beauty Products |
| | Boating, Marine and Maritime |
| | Business |
| | Communication Arts |
| | Company Profiles |
| | Computing |
| | Construction and Building |
| | Corporate Social Responsibility - CSR |
| | Defense and Military |
| | Drug Rehabilitation |
| | Education and Schools |
| | Electronics |
| | Employment, HR and Outsourcing |
| | Energy, Oil and Gas |
| | Entertainment |
| | Environment and Ecology |
| | Facilities and Building Maintenance |
| | Family, Parenting and Children |
| | Food and Beverages |
| | General Editorial |
| | Global Aid and Disaster Relief |
| | Government |
| | Green Business |
| | Health, Diet and Fitness |
| | Home and Garden |
| | HVAC Heating and Cooling |
| | Insurance |
| | Internet and Websites |
| | Jewelry and Diamond |
| | Legal and Law |
| | Manufacturing |
| | Medical |
| | Mining and Metals |
| | Mortuary and Cemetery |
| | NonProfit and Charities |
| | Plastics and Chemicals |
| | Police, Fire and Rescue |
| | Real Estate |
| | Regional Events |
| | Religion and Churches |
| | Restaurant, Hotel and Hospitality |
| | Safety and Security Solutions |
| | Sciences |
| | SEO Experts |
| | Sports and Activities |
| | Stamps, Coins and Collectables |
| | Taxes and Accounting |
| | Telecommunications and VoIP |
| | Theme Parks and Attractions |
| | Trade Shows, Fairs and Expos |
| | Transportation |
| | Travel and Tourism |
| | US and World History |
| | Veterinary and Pets |
| | Water and Wastes |
| | Webinars |
| | Wood and Glass Products |
| |
| | U.S. State Newswires |
| | Alabama Business |
| | Alaska Business |
| | Arizona Business |
| | Arkansas Business |
| | California Business |
| | Colorado Business |
| | Connecticut Business |
| | Delaware Business |
| | Florida Business |
| | Georgia Business |
| | Hawaii Business |
| | Idaho Business |
| | Illinois Business |
| | Indiana Business |
| | Iowa Business |
| | Kansas Business |
| | Kentucky Business |
| | Louisiana Business |
| | Maine Business |
| | Maryland Business |
| | Massachusetts Business |
| | Michigan Business |
| | Minnesota Business |
| | Mississippi Business |
| | Missouri Business |
| | Montana Business |
| | Nebraska Business |
| | Nevada Business |
| | New Hampshire Business |
| | New Jersey Business |
| | New Mexico Business |
| | New York Business |
| | North Carolina Business |
| | North Dakota Business |
| | Ohio Business |
| | Oklahoma Business |
| | Oregon Business |
| | Pennsylvania Business |
| | Puerto Rico Business |
| | Rhode Island Business |
| | South Carolina Business |
| | South Dakota Business |
| | Tennessee Business |
| | Texas Business |
| | Utah Business |
| | Vermont Business |
| | Virginia Business |
| | Washington D.C. Business |
| | Washington State Business |
| | West Virginia Business |
| | Wisconsin Business |
| | Wyoming Business |
| |
| | Video News Releases |
| |
| | World Newswires |
| | Australia Business |
| | Brazil Business |
| | Canada Business |
| | China Business |
| | Germany Business |
| | Honduras Business |
| | Italy Business |
| | Mexico Business |
| | Spain Business |
| | United Kingdom |
|
Terms of Use and License
This "article" version of the issued press release is Copr. © 1983-2010 Neotrope/Send2Press. You may freely link to this article version of the press release or may use the release text as the basis for an original article or news posting. If the content is copied verbatim via a scraping or copy/paste method, the news item must be properly "attributed" to Send2Press® Newswire as the originating wire service for this story. Click here for syndication options.
|
DISCLAIMER: the above press release content is believed accurate but not guaranteed, and is based on business news supplied by the source. The noted source is solely responsible for its accuracy. Financial/Stock news may contain forward looking statements. Neotrope/Send2Press (this website) makes no claims of accuracy or suitability for any purpose. Any opinions expressed by representatives of company(s) mentioned in news and profiles are solely those of the person indicated, and do not reflect any opinion or policy of Neotrope® or Send2Press. Your use of any information contained herein is done solely at your own risk, and you are fully responsible for using any information herein, or on sites mentioned or linked to in the article. All trademarks acknowledged.
REFERENCES:
Long-Term Care Tax Reminder from LTC Financial Partners, tax breaks is long-term care insurance, agent-owned LTC insurance brokerage, MedAmerica, MetLife, John Hancock, Physicians Mutual, Prudential, Allianz, UnumProvident, and Penn Treaty, LTCFP, Washington, long term care, LTCi, Cameron Truesdell, Lucrative Deductions, tax reminder, Dec 9, 2005.
|
|
|
Search Send2Press.com:
Google
Reddit
Diigo
Delicious
Yahoo!
Digg
Blinklist
Blogmarks
Mixx
Facebook
Newsvine
