Dependent Care Assistance You can take advantage of the annual exclusion of up to $5,000 paid under your company’s dependent care assistance plan. No more than 25% of the amounts paid or incurred during the year can go to shareholders or owners with an interest of more than 5% in the company.
Long Term Care Insurance – Reap Major Tax Breaks For LTC Coverage You don’t want to exhaust you hard-won retirement savings just to pay nursing home bills. Long –term care (LTC) insurance provides certainty that nursing home and home health care services will be available if you need them. As a bonus, Uncle Sam allows […]
Employers May Deduct The Cost Of Health Coverage For Employee-Spouses In an ISP coordinated issue paper, the Service has concluded that an employer who employs his spouse may deduct the cost of accident and health coverage for the employee-spouse if the spouse receives the coverage as an employee. The Service also concluded that the employee-spouse […]