“Some Older Adults May Qualify for a New $6,000 Tax Break,” by Lee Pruitt, ElderLawAnswers
“A new, temporary federal tax deduction of up to $6,000 is available annually for taxpayers age 65 and older from 2025 through 2028. This deduction is an addition to the standard deduction and may help lower your taxable income, potentially reducing your tax bill by hundreds of dollars, depending on your tax bracket. Seniors, whether working or retired, may qualify, and in married couples where both spouses are 65+, both may be eligible for the deduction.”
LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:
Finally, something from ElderLawAnswers that isn’t about gaming Medicaid and lining the lawyers’ pockets. What better use for that $6K tax deduction than to pay a LTC insurance premium?!