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  2. Can I Deduct Long-Term Care Insurance From My Taxes? - AOL

    www.aol.com/deduct-long-term-care-insurance...

    Long-term care insurance premiums are indeed tax deductible, though there some rules you’ll need to know before you rush off to file your return.

  3. Caring for a Senior? Here's How to Get the Highest Memory ...

    www.aol.com/lifestyle/caring-senior-heres...

    Some memory care expenses and out-of-pocket medical expenses — like prescriptions and on-site nursing services — for a loved one with dementia are tax deductible.

  4. Long-term care insurance - Wikipedia

    en.wikipedia.org/wiki/Long-term_care_insurance

    Long-term care insurance (LTC or LTCI) is an insurance product, sold in the United States, United Kingdom and Canada that helps pay for the costs associated with long-term care. Long-term care insurance covers care generally not covered by health insurance , Medicare , or Medicaid .

  5. Flexible spending account - Wikipedia

    en.wikipedia.org/wiki/Flexible_spending_account

    This includes child care for children under the age of 13 and day care for an individual of any age who is incapable of self-care, lives with the taxpayer for more than one-half of the tax year, and is either the taxpayer's spouse or dependent. [13] [14] The FSA can be used to pay for day camps for an eligible individual but not overnight camps.

  6. Itemized deduction - Wikipedia

    en.wikipedia.org/wiki/Itemized_deduction

    Per the Tax Cuts and Jobs Act of 2017, miscellaneous itemized deductions are not deductible for tax years 2018 to 2025.. For tax years before 2018: Miscellaneous itemized deductions are subject to a 2% floor, [5] a.k.a. the "2% Haircut".

  7. Retirement Withdrawal Strategies: Maximize Savings and ... - AOL

    www.aol.com/finance/retirement-withdrawal...

    Long-term health insurance can set you up for expenses related to assisted living and nursing homes. Alternatively, having a special account for these expenses could prevent you from withdrawing ...

  8. Health savings account - Wikipedia

    en.wikipedia.org/wiki/Health_savings_account

    The Tax Relief and Health Care Act of 2006, signed into law on December 20, 2006, added a provision allowing a taxpayer, once in their life, to rollover IRA assets into a health savings account, to fund up to one year's maximum contribution to a health savings account. State income tax treatment of health savings accounts varies.

  9. What Is a Tax Deduction and How Do Tax Deductions Work? - AOL

    www.aol.com/tax-deduction-tax-deductions...

    Tax deductions lower your taxable income, which reduces the amount of income tax you’re required to pay. Most tax deductions are expenses that you pay either to generate income or provide a ...