1. On The Fence
Many states offer a deduction or credit on paid LTC Insurance premiums, which can make purchasing coverage more attractive to your clients.
For example, in the state of Ohio, residents are able to deduct the entire annual premium for their LTCI policies on their tax returns.
|
3. Business Owner
When a C-Corporation purchases a policy on behalf of its employees, and their spouses or dependents, the corporation is entitled to take 100% deduction as a business expense on the total premiums paid.
If self-employed, clients can deduct 100% of their out-of-pocket LTC premiums up to the age-based Eligible Premium amounts.
|
