Get Those Deductions!

It's that time of year, and you've got a few days left. Need new sunglasses? Buy 'em. Boots? Go for it!

What about that stock you have that lost a ton of money? Sell it! Old clothes or stuff you don't use anymore? Goodwill or AmVets could use your donation...

Don't forget to max out your standard IRA, either. You're allowed $4000 in tax deductible contributions this year!

 

One thing I don't like about the medical savings plans, is that if you don't use it, you lose it. That really sucks.

If you make regular prescription purchases, visit the doctor several times a year, or have children it can be a good deal if you plan your spending just right. I think women on birth control pills would be a good example. Those things aren't cheap, and being able to deduct that once a month prescription would make this plan more than worth it.

I'm single, and don't have any health issues (yet! lol), so I don't think it would benefit me that much.

I'm pretty sure it covers over-the-counter meds too, like aspirin or cough syrup.

 

That's good to know! I'll be looking into one soon, then. Every deduction counts!