
Episode 11: New WA State LTC Tax On Employees & Other Options for Real Estate Investors with Tony Sablan
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Here is some of what you will learn:
- Learn about he status of the WA State LTC Trust Act Tax going into place Jan 2022. There may be a small window to opt out of the WA plan by getting, one's own private policy prior to Nov. 1, 2021 (underwriting can take 2 weeks-6 months depending on how long it takes to get medical records from Physicians).
- The WA State plan is not cost efficient as it will tax .58 for every $100 one makes. Most individuals will save money by getting their own plan & opting out of tax
(Simple math: your income x .0058= LTC Tax)
- WA State plan is not portable out of WA State
- WA State Benefit is $36,500- not enough!
- No cap on how much one can be taxed with WA State plan
- WA State Plan requires 3 activities of daily living needed to trigger the benefits (private plans need only 2 or one cognitive impairment)
Additional info on opt out options as an example (keep in mind, we have access to other companies as well for you to consider): NYL Secure Care, Asset Flex, WA State Trust Act Tax , and here is the WA State Legislators website on the topic:
https://app.leg.wa.gov/billsummary?BillNumber=1323&Initiative=false&Year=2021
Watch to Learn:
SecureCare: https://players.brightcove.net/75123740001/default_default/index.html?videoId=5990207913001
MyCare: https://players.brightcove.net/75123740001/default_default/index.html?videoId=5808478815001
AssetFlex: https://players.brightcove.net/75123740001/default_default/index.html?videoId=5990208012001
- Learn how to diversify your portfolio and alternative options to real estate and how to create a circular flow for all your investment portfolios.
- And many more...
To find out more about our guest Tony Sablan:
https://www.ultimatewealthstrategies.com/
LinkedIn:
https://www.linkedin.com/in/tonysablan/
To find out more about partnering or investing in a multifamily deal please fill out our Investor Application Form: https://mvpequitygroup.com/investor-application