The Internal Revenue Service (IRS) has announced increased deductibility levels for long-term care insurance policies purchased in 2008. Millions of small and mid-sized business owners are still unaware that the cost of long-term care insurance protection for themselves and their spouse may be fully tax deductible.
Tax advantaged long-term care insurance is one of the few remaining significant tax-savings benefits for owners and self-employed individuals. Discounts for small groups are increasingly available for businesses, even those with 10 or fewer employees.