Preparing For Tomorrow podcast

How can I avoid paying the LTC Trust Act tax?


Listen Later

Even if you don't live in the state of Washington, this is relevant as other states are watching and learning.  This is the first state to implement a mandatory tax for all w-2 employees in the entire state.  This tax will fund a trust that will pay up to $36,500 for long term care provided in the state by state approved providers.  The only way to opt out of this tax is to have your own LTC plan in place prior to July, 2021.  49 other states are watching to see if Washington's revenues increase with this new tax.  If this state found a way to increase revenue and help reduce Medicaid spending on nursing home care, you can be sure others will follow, without regard to what the people want.
...more
View all episodesView all episodes
Download on the App Store

Preparing For Tomorrow podcastBy Diane Stoddart, Certified Long Term Care Consultant, CLTC

  • 4.6
  • 4.6
  • 4.6
  • 4.6
  • 4.6

4.6

9 ratings


More shows like Preparing For Tomorrow podcast

View all
The Clark Howard Podcast by Clark Howard

The Clark Howard Podcast

5,393 Listeners

Investing Insights by Morningstar

Investing Insights

490 Listeners

The Retirement and IRA Show by Jim Saulnier, CFP® & Chris Stein, CFP®

The Retirement and IRA Show

730 Listeners

Suze Orman's Women & Money (And Everyone Smart Enough To Listen) by Suze Orman Media

Suze Orman's Women & Money (And Everyone Smart Enough To Listen)

4,407 Listeners

The Rob Berger Show by Rob Berger

The Rob Berger Show

177 Listeners

The Mel Robbins Podcast by Mel Robbins

The Mel Robbins Podcast

20,469 Listeners