There are many financial implications to consider before moving to a Life Plan Community. Becoming a resident at a Silverstone Living Community may present worthwhile tax and financial advantages.
Pre-Paid Medical Expenses
A portion of the one-time entrance fee may be included on a federal tax return as a prepaid medical expense. A portion of the monthly service fee may also be deducted (typically 30% to 40%).
New Hampshire’s Tax Advantage
New Hampshire is one of the most attractive states to retire in, due to an appealing tax profile:
- No general sales tax.
- No state income tax.
- No state estate tax.
- No capital gains tax.
- Pensions are not taxed.
- Lowest tax burden of any New England state.
- In the Top 10 of Lowest Tax States in the US. (www.taxfoundation.org)
