Friday, August 15, 2008
Can you deduct the cost of Long Term Care Insurance?
Most individuals do not ask this question but for those that are sole proprietors or partners in a business, they should be asking. I have attached a link to an article that was written in Kiplinger's Financial by Kimberly Lankford that gives a very nice explaination. In a word, YES. The insurance is deductible. Now go read the details and caveats to see how you can take advantage of this. http://www.kiplinger.com/columns/ask/archive/2008/q0814.htm