Hindson & Melton LLC » Long Term Care http://hindsonmelton.net Thu, 06 Jan 2022 21:08:05 +0000 en-US hourly 1 https://wordpress.org/?v=3.9.40 Long Term Care Insurance Tax Deductions http://hindsonmelton.net/long-term-care-insurance-tax-deductions/ http://hindsonmelton.net/long-term-care-insurance-tax-deductions/#comments Sat, 02 Jun 2012 13:21:52 +0000 http://hindsonmelton.net/?p=1515 Many people consider purchasing long term care insurance to help preserve assets for the future and their estate.  Did you know that a portion of your annual long term care premiums are tax deductible for 2012?

For 2012, the amount you may deduct of your annual premium is based on your age:
Over 70 – $4,370
Age 61 to 70 – $3,500
Age 51 t0 60 – $1,310
Age 41 to 50 – $660
Age 40 and under – $350

Hindson & Melton LLC will work with your financial and tax advisors to assist you in coordinating an effective and informed estate and financial plan.   If you do not currently have a financial or tax advisor, we can provide referrals to certified advisors in your area.  Contact Karen Hindson or Joy Melton of Hindson & Melton LLC for your Georgia and South Carolina estate planning needs.

For more information about this post contact Karen Hindson.

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