Yes, If you look under your medical deductions. Any reputable company will send you a cost analysis of what you have spent in "premiums" for the year. Take this to your accountant or tax prep service.
Yes, it is. Long term care insurance premiums are tax deductible. Premium payments are considered to be medical expenses and they are deductible as long as the medical expenses exceed 7.5% of the individual's income.
If you are referring to tax deductibility, yes, long-term care insurance is tax deductible. Age determines tax deductibiliby. Please refer to the related links below to check the limits of tax deduction for long-term care insurance:
A long-term disability is an illness or accident that impairs you from working and earning an income for a period of 3 months or longer. Lon-term disability insurance will pay a monthly benefit in case you can't work for three months or longer. Benefit period is usually 2 years, 5 years, or to retirement age (age 65, 67). The waiting or elimination period is generally 90 days or 180 days, after which benefits start.
The allowable tax deduction from your long-term care insurance premiums depends on your age. The general rule is that the maximum amount of your deductible money is higher if you are older. Check the related link below to check the highest amounts of tax deductible money from long-term care insurance premiums for the year 2014
No, because there is no tax deductions in your disability which entitles you to receive unemployment.
Long term care insurance can be tax-deductible if you purchase a tax-qualified policy. There are many tax advantages to doing so, but paying your premium through a business will get you the best tax deductions. The actual amount of your premium that can be tax deductible depends on the type of business (C-Corp, S-Corp, partnership, etc.) and most benefits are generally tax free.
You can pay for your disability premiums pre-tax through payroll deduction. If you do this any benefit will be taxed as well.
If you are in the state of Texas, most disability, both short term and long term disability will cover 60% of your income tax free.
It depends on how the premiums for the long-term disability policy are paid. If the premiums are paid with pre-tax dollars (such as through an employer-sponsored plan), then the benefits are generally taxable. However, if you pay the premiums with after-tax dollars, then the benefits are usually not taxable.
well for one thing i have no freaking idea and yeah its not my problem noob.
Not if you were paying for your own policy yourself. Tax free benefit. 4lifeguildMaybe. Disability payments can considered tobe partially or fully taxable income.
You should consult with a tax specialist, but generally employer paid disability insurance benefits are taxable.