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Long Term Care Tax Deductions

Long Term Care Tax Deductions

As tax season gets underway, I thought it would be a good time to review the question of long term care tax deductions. The IRS allows deductions against your personal income tax for the costs associated with medical care. You must itemize these costs in order to...
Medicaid Penalty Period Will Delay Eligibility

Medicaid Penalty Period Will Delay Eligibility

Often, seniors give away their assets to their children in an effort to become eligible for government benefits.  However, no gifts should be contemplated without fully understanding the Medicaid penalty period. When a transfer of assets is made and Medicaid is needed...