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Long Term Care Insurance and Tax Time
Keep in mind the following rules when it comes to medical expenses which can include any long term care premiums you have paid in 2017.
Premiums that you pay for long term care insurance are tax deductible if they along with other unre [...]
Keep in mind the following rules when it comes to medical expenses which can include any long term care premiums you hav [...]
Disability Insurance and Tax Time
Disability income insurance benefits are taxed as follows:
If you pay the premiums, disability income benefits are received income tax free.
If your employer pays the premiums, disability income benefits will be taxable.
Solely relying on your employers sponsored disability plan may not adequately provide fo [...]
Disability income insurance benefits are taxed as follows:
If you pay the premiums, disability income benefits are received income tax free.
If your employer pays the premiums, disability inco [...]
Life Insurance and Tax Time
Generally, life insurance proceeds received by a beneficiary are received income tax free. Permanent, cash value, life insurance allows for tax deferred accumulation, tax advantaged income and income tax free death benefit. Withdrawals and loans reduce the policy’s cash value and death benefit, and withdrawals in e [...]
Generally, life insurance proceeds received by a beneficiary are received income tax free. Permanent, cash value, life insurance allows for tax deferred accumulation, tax advantaged income and incom [...]
