Cost of Funeral Expenses and Burial often times leaves our people with difficulties during the hardest time of their lives. Most of our clients choose a whole life insurance policy to mitigate the cost for their loved ones. Setting up your own estate plan ensures your loved ones won’t have to make hard choices about your funeral and other death-related expenses. The best thing you can do is create a plan for the future. The unfortunate reality is that funeral and burial costs are not tax-deductible on individual tax returns. With costs rising, more people are looking for ways to afford memorials and arrangements for their loved ones after death. There are a lot of misconceptions about how tax deductions work for funerals and burials. If this is the case, funeral expenses are no longer deductible. It’s also important to note that estates that continue to earn income might need their own tax returns.
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