Tax Advantages

There are many financial implications to consider before moving to a CCRC. Becoming a resident at RiverWoods may present worthwhile tax and financial advantages to you. Although we recommend speaking to your personal accountant or financial planner about the benefits available to you, here are a few reasons to choose RiverWoods.

Tax Free New Hampshire

New Hampshire is a state that fiercely defends our individual rights and freedoms, and has several wonderful aspects that make living here a real financial benefit:

• No general sales tax
• No personal income tax
• No capital gains tax
• The lowest tax burden of any New England state
• One of the top 10 states in the country with the lowest taxes

Pre-paid Medical Expenses

A portion of your entrance fee and your monthly service fee may be deductible as a prepaid medical expense on your federal tax returns. In the last few years the percentage of the monthly service fee that is deductible ranged from 30% to 40%.

RiverWoods engages an outside expert each year to calculate the amount of the monthly service fees and entrance fees that are deductible as a medical expense on federal tax returns. The expert reviews applicable regulations and rulings in compiling their analysis.