Released on: March 27, 2008, 10:34 am

Press Release Author: Dick Samson / EraNova Institute

Industry: Healthcare

Press Release Summary: Don\'t Forget Deductions for Long Term Care Insurance Premiums

Press Release Body: Kirkland, Washington, March 27 - As the April 15 tax deadline
looms, filers should not overlook the deductions allowed for long term care
insurance, according to Kirkland-based Carol Guilbault, Partner of LTC Financial
Partners LLC, the nation's most experienced long term care insurance agency.

\"People with LTC policies can deduct substantial sums,\" says Guilbault, \"and those
who don\'t have policies, but want them, can set themselves up now for deductions
next year.\" According to the Internal Revenue Code, the 2008 deductible amounts can
be as high as --

* $3,850 if you\'re 70 or over*
* $3,080 if you\'re over 60 but not over 70*
* $1,150 if you\'re over 50 but not over 60*
* $580 if you\'re over 40 but not over 50*
* $310 if you\'re 40 or under*

*Before end of taxable year, if medical expenses exceed 7.5% of adjusted gross income

But the tax benefits may not end there. \"When people start taking their benefits,
there can be additional deductions in some cases,\" Guilbault says. \"When a policy is
designed to pay on a per-diem basis, a limited portion of the benefits may be
excluded from taxable income.\" Also, when a policy is paid for out of a Health
Savings Account (HSA), there can be tax advantages. \"HSA\'s are funded with pre-tax
dollars, and long term care premiums are eligible medical expenses, according to the
IRS (Publication 502).\"

For businesses, the tax breaks can be especially attractive, Guilbault says. \"For
example, when small business owners pay the premiums -- for employees or themselves
-- it\'s generally deductible as a business expense.\" The self-employed,
S-corporation owners, and C-corporation owners are NOT subject to the 7.5% rule that
limits the medical-expense deductions of individual taxpayers.

LTCFP does not prepare tax returns or offer tax advice as part of its service, \"but
we team up with tax experts to make sure their clients have the benefit of our
special knowledge,\" she says. \"Nobody knows more about the economics of long term
care insurance than we do, and we\'re glad to meet with anyone\'s accountant or tax
attorney.\" LTCFP has formed strategic alliances with financial planning
organizations including banks and the National Association of Estate Planning
Attorneys.

How can you make sure you don\'t miss out on the eductions? \"We\'re glad to consult
with anyone\'s tax preparer,\" says Guilbault. More than 400 LTCFP experts are
available by phone or Internet. Requests for help, at no change, may be made at
www.ltcfp.us/CarolGuilbault .

Carol has seven years of experience in the Long Term Care Insurance industry. As a
result of Carol's sincere desire to reach thousands of residents on the West Coast
and help them with their Long Term Care Insurance needs, she currently holds the
prestigious position as one of the top 50 of the nation's most successful agents.

Specializing solely in Long Term Care Insurance, Carol's accomplishments include
working with General Electric in their Long Term Care Division, prior to joining LTC
Financial Partners, LLC (LTCFP) where she made "Partner" status in 2004. LTCFP
represents the top long term care insurance experts in the nation.

Carol has published articles for long term care trade publications, is a radio show
host on the broadcast, "Chat with Women" and is a resource for those wanting to know
more about their Long Term Health Care options. Her goal is to utilize the strength
of her partnership to provide security, peace of mind and financial freedom trough
the education of the need to plan for ones long term care needs.

She serves as an active member of SHRM (Society of Human Resource Management), NWRT
(Northwest Round Table), the American Society of Long Term Care, and the FPA
(Financial Planners Association) and is the project manager for The Swedish Medical
Center's LTC benefit plan.

Carol is well versed in providing educational seminars and frequently speaks to
groups nationally. Program chairs may reach her at 425-641-8502 or 425-736-0307
(cell).

MEDIA CONTACTS:
Carol Guilbault of LTC Financial Partners -- 425-641-8502 - www.ltcfp.us/CarolGuilbault
Jonas Roeser of LTC Financial Partners -- 425-284-4863
Dick Samson of EraNova Institute for LTC Financial Partners - 973-335-3699 -
media@eranova.com

LTC Financial Partners LLC - Kirkland, Washington

# # #

Photo of Carol Guilbault:
http://www.ltcfp.us/CarolGuilbault/images/portrait.jpg

Web Site: http://

Contact Details: MEDIA CONTACT:
Dick Samson of EraNova Institute for LTC Financial Partners - 973-335-3699 -
media@eranova.com