Aging In Place Business Network

Long-term Care Planning for Small Business Owners

Speaker: Tracy Meade, CLTC – Independent Financial Planner and Certified Long-Term Care Consultant, Tracy Meade and Associates

Most people are not aware that Medicare does not normally pay for long-term care and that they or their family will be responsible for the cost of care, if needed. Tracy will speak on the cost of care in our area, the types of long-term care insurance (both tradition and hybrid) and their differences; and the most tax-efficient ways to leverage your resources to provide a pool of funds for care.

Devy Goradia, CPA, from Accounting Solutions, PLLC, will be on hand to answer any tax question regarding the deductibility of long-term care insurance expense, both when paid personally and when paid by their business.

Tracy Meade provides tax-efficient business administration and financial planning services for busy small businessowners. Since becoming certified in long-term care planning in 2018, she has regularly held education events on long-term care planning, and preretirement seminars on Social Security and Medicare in Central Virginia for The Center at Belvedere, OLLI at UVA and the Charlottesville Area Association of REALTORS®.