Month: April 2010

Tax Relief for our Soldiers: Defending our Defenders

How about all those servicemen and women who were overseas on April 15? Do they have to file income tax returns? For federal tax purposes, U.S. Armed Forces include officers and enlisted personnel in all regular and reserve units controlled by the Secretaries of Defense, of the Army, Navy, and Air Force. The Coast Guard… Read More

New Tax-Free Exchange for Long Term Care Insurance

Starting January 1, 2010, there are two important tax changes regarding Long Term Care: 1) distributions from life insurance policies and annuities which have long-term care features are tax-free when used to pay long-term care costs, and 2) both life insurance and annuities can be exchanged tax-free for tax qualified long term care insurance. If… Read More