Submitted by Armen Hareyan on Dec 5th, 2007
New guide provides information on long term care insurance tax-advantaged rules that are essential to creating alliances with LTC Insurance professionals.
There are roughly one million accountants, CPAs and professionals who assist individuals and business owners with tax preparation. A new brochure provides comprehensive information on tax advantages now offered to Americans who purchase long-term care insurance.
"Accountants have proven to be a phenomenal source of referrals because they generally have the trust of their clients and they get to see their clients on a regular basis, typically around tax time," explains Jesse Slome, executive director of the American Association for Long-Term Care Insurance, the national professional organization that produced the just-published guide. "However, many accountants still do not understand the tax advantaged status of long-term care insurance or some of the simple planning strategies that can benefit their clients, especially those who own businesses or are self-employed."
To support insurance and financial professionals seeking to form strategic alliances with accountants and tax professionals, the Association has published a new eight-page guide providing tax and planning information of specific interest to this audience.
The long term care insurance tax guide provides federal tax deductibility limits for both 2007 and 2008 as well as answers to questions most often posed by accountants. "Accountants understand numbers and the guide includes important factual information such as the break-even point for long-term care insurance (the point where premium costs equal policy benefits paid) or the cost of delaying purchase from age 59 to age 65," Slome explains. The back cover can be personalized with the provider's contact information.
The new brochure can be viewed on the American Association for Long-Term Care Insurance Website (www.AALTCI.org). For more information call the Association at (818) 597-3227. Established in 1998, the American Association for Long-Term Care Insurance is the industry's professional trade organization.
Source:
American Association for Long-Term Care Insurance 