The Internal Revenue Service (IRS) is increasing the amount taxpayers can deduct from their 2017 income as a result of buying long-term care insurance.Premiums for “qualified” long-term care insurance policies (see explanation below) are tax deductible to the extent that they, along with other unreimbursed medical expenses (including Medicare premiums), exceed 10 percent of the … Continue reading IRS Issues Long-Term Care Premium Deductibility Limits for 2017