IRS Issues Long-Term Care Premium Deductibility Limits for 2016
The Internal Revenue Service (IRS) is increasing the amount taxpayers can deduct from their 2016 taxes as a result of buying long-term care insurance.
The Internal Revenue Service (IRS) is increasing the amount taxpayers can deduct from their 2016 taxes as a result of buying long-term care insurance.
For this reason, Medicare imposes fairly fairly significant late-enrollment penalties for those who postpone signing up. To encourage everyone to sign up when they first become eligible, the program increases premiums based on how long a beneficiary waits to enroll.
Knowing the "cost basis" of your property is important for tax purposes, but proving cost basis can be difficult.
For only the third time in 40 years, the nation's elderly and disabled Social Security recipients will not receive an increase in benefit payments next year. However, as a direct result of this, about 30 percent of Medicare are facing a staggering 52 percent increase in premiums.
Are you happy with your Medicare coverage? It is time to review whether your plan or plans are working for you.