Q. Tax day is coming soon and I wonder if I can claim a tax deduction for my Long Term Care Insurance Premiums paid during this past year? A. Depending upon your income and age, the answer may very well be ‘yes’, at least as to a portion of your premiums paid. Here’s the… Read More »
Monthly Archives: January 2017
Family Loans: Avoid Running Afoul of IRS Rules
Q. My wife and I want to make a loan to our son to help him buy a home. We are really not interested in charging interest and we might even forgive the loan in our Wills. Are there any tax implications of which we should be aware? A. Yes, there are. Concerns regarding intra-family… Read More »