Ellen Phillips Tax tip
Deduct more of your long-term care premiums for 2016 medical expenses. Taxpayers age 71 and older can claim up to $4,870; seniors 61 to 70 can claim up to $3,900; and folks 51 to 60 can deduct up to $1,460.
This time of year, fraudsters commit four particular scams that I saved for this week’s discussion. I first learned of The Cons of April from AARP.
Flood- related car sales “flood” the market following winter’s ravages. Insurers rate vehicles with water damage a total loss, but these babies are often bought at auction, cleaned and sold to individual buyers or even dealers.
Typically, the car soon breaks down, perhaps never to be repaired enough to be safely drivable. Before handing over your check or credit card, demand certain investigations to reduce the risk of buying a pig in a poke.
* Warning signs include strong smells, discolored or too-new carpet, water stains, silt in door panels/inside glove compartments/under seats and condensation in headlights and dashboard gauges.