Financial Considerations of CCRC Fee Tax Deductions

A couple of weeks ago, we wrote a post answering a question we sometimes get about whether it’s wise to pull money from an individual retirement account (IRA) to help cover the cost of an entry fee at a CCRC or life plan retirement community. As explained in the post, in some cases, this can [...]

By |2023-08-05T16:38:33-04:00June 27th, 2023|
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Understanding Tax Deductions for CCRC Residents

Here at myLifeSite we are frequently asked about medical expense tax deductions at a continuing care retirement communities (CCRCs, or "life plan communities"). In this post we'll cover the details about this deduction, but please be sure to consult with your accountant or tax preparer before making any decisions. What is the medical expense tax [...]

By |2023-06-23T16:10:48-04:00July 6th, 2021|
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