Hi gang,
Need some input from you CPA’s, I sell Long Term care insurance and never really answer the tax questions with too much clarity, mostly because I’m not a tax advisor but an insurance advisor, I usually advise clients to go over this with their CPA. I thought I’d dive deeper into this question to help my clients. Here is what I do understand.
If a person has a business or is self employed they can write off the insurance premium up to a given amount. Publication 535 (2008), Business Expenses
But what I’m wondering is if a person is self-employed (like most the farmers I write) can they still apply for a state tax credit as well?
Long-term care insurance
Thanks for all the help you awesome people you:smug2:
Kyle
Need some input from you CPA’s, I sell Long Term care insurance and never really answer the tax questions with too much clarity, mostly because I’m not a tax advisor but an insurance advisor, I usually advise clients to go over this with their CPA. I thought I’d dive deeper into this question to help my clients. Here is what I do understand.
If a person has a business or is self employed they can write off the insurance premium up to a given amount. Publication 535 (2008), Business Expenses
But what I’m wondering is if a person is self-employed (like most the farmers I write) can they still apply for a state tax credit as well?
Long-term care insurance
Thanks for all the help you awesome people you:smug2:
Kyle
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