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As the fight against COVID-19 continues, the IRS is helping people with the cost of personal protective equipment (PPE). On Friday, March 26, the IRS released Announcement 2021-7, which qualifies PPE bought for the primary purpose of fighting COVID-19 as eligible medical expenses under section 213(d) of the Internal Revenue Code. >>
The IRS announced that the 2021 tax filing deadline has been extended to May 17, 2021. If you own a Health Savings Account (HSA), here’s some good news: you can make HSA contributions for the previous year before the tax deadline! Sound too good to be true? Well, according to >>
Did you know that March is National Nutrition Month? In light of this designation, I would be remiss to overlook how you can use your Flexible Spending Account (FSA) or Health Savings Account (HSA) for nutrition eligible expenses. One thing to remember is that eligible medical expenses are strictly defined >>
Health Savings Accounts (HSAs) are very popular among people with high deductible health plans (HDHPs). With this tax-advantaged benefit, a person can use their HSA to cover a large variety of out-of-pocket healthcare expenses. In addition, HSA owners can take advantage of triple tax savings: tax-free funding, tax-free interest, and >>
If you put off taking care of some expensive healthcare needs in 2020, this year could be the year to get them done. Why? Because if your employer’s plan has full Flexible Spending Account (FSA) rollover, you may have a sizable balance to spend. Learn more about this FSA spending >>
When you see your physician, visit the pharmacy, or make another healthcare-related purchase, you may wonder “Why should I keep my healthcare receipts?” Whether the expense was for yourself or a qualified dependent, there are some important reasons to keep your receipts. If you have a Flexible Spending Account (FSA), >>
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