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AALTCI Provides LTCI Tax-Deductibility Rules
The American Association for Long-Term Care Insurance (AALTCI) is fighting the winter doldrums with sunshine. Individuals and business owners who purchase long term care insurance (LTCI) next year will benefit from higher tax deductible limits.
According to the American Association for Long Term Care Insurance, the Los Angeles-based national trade group, the Internal Revenue Service has agreed to raise the tax deductible limits by roughly three percent over the current limits.
"The federal government clearly wants to encourage more Americans to plan for the risk of needing costly long-term care,"
The American Association for Long-Term Care Insurance offers this information to help you better understand the various tax implications relating to LTCi policies. This information is provided for informational purposes only and should not be construed as tax advice. Please consult a tax advisor regarding your particular circumstances.
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