Until the Patient Protection and Affordable Care Act of 2010 (ACA), the only health care coverage available to persons with disabilities was Medicare or Medicaid. For persons with disabilities who have a limited work history, unless they became disabled before age 22 and later qualified for Medicare upon the worker parent’s retirement, disability or death, Medicaid has been the only available source of health care coverage. Consequently, the ACA eliminates the option for health insurance companies to deny coverage for a preexisting condition. Therefore, the new health insurance provides options for people with disabilities. Since September 23, 2010, health insurance…
The speculation won’t be over until the final bill is written up, passed, and signed into law, but with prospects looking reasonably good for the Obama Tax Proposal, it may be time to review your year-end tax planning. Reuter’s is ahead of the game and recently listed their top three suggestions: Timing on deductions and income: If you thought you were going to see increased taxes in 2011, you may have planned to push income forward into 2010 and deductions back into 2011. With the Bush-era tax cuts extended to all income brackets this won’t be the case and…
If you’re looking for a way to bring up the topic, you might consider sharing a recent issue of our newsletter, like the October issue that focuses on Family Matters.
These special types of trusts allow you to supplement any government benefits to which your
loved one may be entitled, without disqualifying them from receiving those benefits.
When you start a business you have a lot of things to think about and remember, from pricesand products to advertising and social media. You might find that, while juggling all of these day-to-daybusiness concerns, it’s easy to forget about planning for your business taxes. The Chicago Tribune ran an excellent reminder of this, and several tips to keep in mind: You may have to file a tax return even before you take in any revenue. The amount of start-up costs that can be written off in 2010 is double what it was in 2009,to as much as $10,000 for…
As you may know by now, the Federal Estate Tax lapsed in 2010 and Congress has not yetdecided what to do about it. I ran across another good end-of-year planning article, written by Robert Wood for Forbes. I think his tips are worth repeating here. 1. Remember that, even though there is no estate tax this year, executors for estates valued atmore than $1.3 million still must file an “informational” return with the IRS.2. While some (morbid) people are referring to this as “the year to die,” it is perhaps moreimportantly “the year to give.” The Gift Tax is still…
Joining a pooled trust may be an option for some people in certain states to receive home care
through Medicaid, without having to impoverish themselves in order to qualify.
The Life Care Plan includes the services of an elder care attorney and an elder care coordinator, who work together, to enhance your, your loved one, or family member’s quality of life.
Senior Life Care Planning works with seniors and their families as advocates for their quality of life, whether at home, assisted living facility or nursing home.
Frederick, MD 
301-663-9230
