As a W-2 Employee employed in Washington State, you have a timeline:
1. May-October 2021: You can review PRIVATE Long-Term Care policies and if you are approved and LTC policy is paid and delivered to you by Oct. 31st, you can;
2. November-December 2021: You may file EXEMPTION paperwork with Washington State. (I will be helping my LTC clients with this)
3. January 2021 & beyond: If you fail to exempt yourself, you will have the new LTC Trust Fund income tax applied to your paycheck ongoing.
Or you can do nothing and the Income Tax will start for you in January 2021!
In our busy lives, there are simple steps to take to see if you can exempt the additional MONEY leaving your paycheck for years to come and look to secure controllable PRIVATE health-coverage (LTC care insurance policy) for decades to come while working and into retirement.
1. Understand the tax COST to you, and the State's plan for you
2. Seek to find the most appropriate plan based on your health, your financial situation, and your business income tax savings options. Since all alternatives START with your health, click to fill out this HEALTH QUESTIONNAIRE which Mark Rogers, CLTC will review to share unique options with you.
3. You may set an appointment on Mark's calendar to review your needs and your planning options. Since Mark's specialty has been long-term care planning since 2008, he knows questions and sees solutions that most other agents/advisors do not see, thereby giving affordable options with unique methods for Business Owners and Executives.