12/2 Consumerism Commentary: A Personal Finance Blog Since 2003

Please add updates@feedmyinbox.com to your address book to make sure you receive these messages in the future. Consumerism Commentary: A Personal Finance Blog Since 2003 Your Flexible Spending Account: 10 Qualifying Purchases December 1, 2009 at 11:00 am Flexible Savings Accounts (FSAs) are often offered by companies to help their employees save money by setting aside income from paychecks to pay for health-related expenses without being taxed. For many Flexible Savings Account holders, the deadline for using the funds set aside is the end of the calendar year. Medical FSAs usually provide the account holder with a debit card that can be used to pay for a wide variety of health-related expenses. Co-payments and co-insurance for visits to the doctor can be paid with the tax-free account, as can prescription and over-the-counter medications. One unfortunate drawback from the employee’s perspective is the possibility of forfeiting the money set aside if left unused at the end of the year. I don’t have a Flexible Savings Account right now, but if I had been putting aside $100 each paycheck for myself, I would want to make sure I didn’t lose any of that money. Now that we’re approaching the end of the year, many people are likely in this predicament. FSA participants must find qualifying ways to spend hundreds or thousands of their own dollars. Almost anything that the IRS considers a valid medical expense for tax deductions will qualify for FSA spending. Here are ten qualifying purchases that might surprise you. Travel and transportation. The miles you drive to and from necessary medical care qualifies for reimbursement from your FSA at the rate of $0.24 per mile. Keep a driving log and submit your details for reimbursement, as the debit card won’t come in handy for this particular expense. All travel expenses are considered. If you need to fly outside the United States for medical care, that is covered as well. Car modifications. If you’re looking to pimp your ride, you may be able to pay for the expenses with your pre-tax dollars in your FSA. There is a catch: the modifications must be approved by a medical professional in order to treat a condition. That leads me to believe adding accessibility features might be covered but if you’re looking for a Nitrous Oxide Systems upgrade, you may be out of luck. Lodging. Your FSA will cover lodging expenses incurred for required medical care. If you visit a hospital out-of-town for specialized care and need to stay in the area but not necessarily at the hospital, or if you visit a specialist with her own practice, your stay in a hotel can be paid with funds from your FSA. Abortions. Medical abortions are qualified medical expenses. Congress will be in heated debate soon about whether abortions should be eligible for federal assistance under the new Health Reform law. Meanwhile, you can continue to pay for an abortion with money you set aside to be exempt from income taxes. Over-the-counter cough syrup. This is a good option for end-of-the-year spending. Cough syrup most likely won’t expire for several years, and almost everyone suffers from colds once in a while. If you use cough syrup to ease your symptoms you can stock up now. Swimming lessons. If a doctor advises you to learn to swim for the treatment of a medical condition, use your FSA to pay for the expenses. Aquatic therapy is used to help with arthritis and joint stress and is also used to ease some symptoms of cerebral palsy and autism. Condoms. If you use condoms or other contraceptives, you can pay for these items with your Flexible Spending Account. Buy in bulk now for the future. Sunscreen. Not all sunscreen qualifies for payment from a Flexible Spending Account. Look for sun block with an SPF rating of 30 or higher as well as other sunburn creams and ointments. Viagra. Viagra and similar medications are prescription drugs, so they qualify as legitimate medical expenses for your FSA dollars. Combine this with some of the other items listed here, and you’ll be set for a good time. Weight loss programs. If a doctor suggests a wight loss program or drugs to treat a medical condition, then these expenses can be paid for with your FSA debit card. If you’re just looking to fit back into the jeans you wore in college, you are out of luck. The good news is that your FSA will always cover Band-Aid bandages, even if you just plan on wearing them as fashion accessories. Have you used your FSA for any interesting expenses? Photo credit: Mauricio Pellegrinetti FSA Eligible Expenses, WageWorks Rating: 0.0/5 (0 votes cast) The Consumerism Commentary Podcast is in full swing with new episodes every Sunday. Listen and subscribe now! Your Flexible Spending Account: 10 Qualifying Purchases Energy Efficient Appliance Upgrade, Anyone? December 1, 2009 at 7:56 am Much like the wildly popular and probably successful Cash for Clunkers program earlier this year, a portion of the 2009 American Recovery and Reinvestment Act is being allotted to a program for upgrading older, energy wasting appliances. None of the important details have been released yet, such as “what Energy Star rating will my new refrigerator need to have?” But we can tell you this much right now: Rebates won’t be available until at least next March (remember, the stimulus plan was always intended to be spread out over two years) This isn’t new deficit spending, it’s just a part of the earlier approved stimulus package You can safely ignore this unless you’ve already been wanting to upgrade one of your appliances Consumerism Commentary will likely never recommend spending money just to get a rebate, or coupon, or because the president says it’d be a good idea. Do some calculations and decide whether a more energy efficient appliance would be a good addition to your household. There’s another interesting wrinkle I don’t remember from “Cash for Clunkers,” too: The program will be run by state governments, which must identify and enact their rebate plans with federal government funding and approval. This could mean that some states will have different energy consumption requirements, and it could mean that rebates may be processed faster, which was one of the more sympathetic complaints about how Cash for Clunkers was mishandled. On the other hand, they could be processed just as slowly, placing the blame squarely on the state government’s shoulders. I’m just speculating, though. We’ll naturally keep an eye on it and provide you with more details when they’re available. However, if you’re looking to make any and all energy efficiency improvements, there are federal and state-level credits running now and through 2010. ‘Cash for appliance’ plan being finalized, UPI, 27 Nov. 2009 Rating: 0.0/5 (0 votes cast) The Consumerism Commentary Podcast is in full swing with new episodes every Sunday. Listen and subscribe now! Energy Efficient Appliance Upgrade, Anyone?   This email was sent to carpenter.autoblog@gmail.com.  Manage Your Account Don't want to receive this feed any longer? 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12/2 The Irish Times - Finance

Please add updates@feedmyinbox.com to your address book to make sure you receive these messages in the future. The Irish Times - Finance - Articles from The Irish Times - Finance Iseq moves forward as it shrugs off Dubai jitters December 1, 2009 at 7:49 pm DUBLIN REPORT: Iseq:2,849.63 (+42.04) Settlement date:December 4th Joe Lewis has the stomach for this high-stakes pub brawl December 1, 2009 at 7:49 pm LONDON BRIEFING:LOSING THE best part of $1 billion in the collapse of Bear Stearns last year does not appear to have dulled the ambitions of Joe Lewis, the legendary Bahamas-based currency speculator whose battle for control of Mitchells & Butlers has now exploded into open warfare, writes FIONA WALSH Revenue investigations yield €97m in third quarter December 1, 2009 at 7:49 pm THE REVENUE Commissioners yielded more than €97 million from its audit and investigation programmes in the three months to the end of September. Ruling poses dilemma for bank and State December 1, 2009 at 7:49 pm ANALYSIS:THE DECISION of the European Commission to tell Allied Irish Banks (AIB) to stop paying coupons on some of its bonds is hardly surprising. This is the practice followed by Brussels on most bank restructuring plans, writes SIMON CARSWELL In short December 1, 2009 at 7:18 pm A roundup of today's other business news in brief Euro zone jobless rate at 11-year high December 1, 2009 at 7:18 pm Euro zone unemployment remained stable at 11-year highs in October, but September jobless numbers were higher than previously reported, showing the labour market has yet to feel the effects of a nascent economic recovery. Court clears way for Vodafone to seek damages from former executive December 1, 2009 at 7:18 pm THE COMMERCIAL Court has cleared the way for Vodafone to seek damages from a former financial executive and others over allegedly conspiring to defraud the company of more than €2.3 million via the fraudulent requisitioning of services. Consumer sentiment dips in October December 1, 2009 at 7:18 pm CONSUMER CONFIDENCE faltered slightly last month, after lifting significantly in October, but there are signs that the "panic" that gripped individuals over the past year is easing. Manufacturing output driven higher by stronger new orders December 1, 2009 at 7:18 pm PRODUCTION AT Irish manufacturing firms rose in November, bringing an end to a 20-month contraction and adding weight to predictions that the economy is stabilising. 96% rise in job losses this year December 1, 2009 at 7:18 pm BUSINESS GROUPS have called on the Government to prioritise the restoration of cost-competitiveness in order to stem the flood of job losses, as the latest figures revealed a 96 per cent spike in redundancies so far this year. Docklands authority to get new code of governance December 1, 2009 at 7:18 pm THE DUBLIN Docklands Development Authority (DDDA) board members now behave "like judges" in order to avoid accusations of bias, according to chairwoman Prof Niamh Brennan. Aer Lingus warns 1,000 jobs may go after talks fail December 1, 2009 at 7:18 pm Aer Lingus warned yesterday that more than 1,000 workers could be made redundant over the coming months after the airline failed to reach agreement with unions on a plan to cut €97 million from costs by 2011. 'Upward-only' rent reviews barred in new leases from 2010 December 1, 2009 at 7:18 pm THE GOVERNMENT has banned the use of clauses in business leases which provide for "upward-only" rent reviews in a move that came as a surprise to the industry. €100m property firm owned by brothers goes into liquidation December 1, 2009 at 7:18 pm A PROPERTY investment company owned by Colum and Ciarán Butler, the businessmen behind the Leisureplex franchise, has gone into liquidation. Tullow has weeks to decide on purchase of Ugandan oil assets December 1, 2009 at 7:18 pm TULLOW OIL will have to decide in the coming weeks whether to pre-empt the sale of Heritage Oil's Ugandan assets to Eni, the Italian energy group. More than 100 jobs to be lost at Lombard Ireland December 1, 2009 at 7:18 pm MORE THAN 100 jobs are to go at Lombard Ireland, the asset financing subsidiary of Royal Bank of Scotland (RBS). Some 84 jobs are to be lost in the Republic, while 24 employees in the company's Northern Irish division will lose their jobs. Honohan set on enforcement despite legal risks December 1, 2009 at 7:18 pm THE GOVERNOR of the Central Bank, Patrick Honohan, has said he is determined to see "a renewed emphasis on enforcement" in financial regulation, even if there is a risk of incurring legal costs in unsuccessful cases. €3.8bn loans for 10 major clients December 1, 2009 at 7:18 pm THE TOP 10 developers at AIB moving to the National Asset Management Agency (Nama) had loans of €3.8 billion last September, of which almost a quarter were "non-performing", the bank said in a shareholder circular. AIB told to stop paying interest on some debts December 1, 2009 at 7:18 pm ALLIED IRISH Banks (AIB) has said the European Commission has told the bank to stop making interest payments on some of its debts, including the Government's €3.5 billion preference share investment in the bank. How retail's big players are colonising the world December 1, 2009 at 10:26 am HOWEVER NICE the architectural packaging, the tenant line-up in shopping centres and retail thoroughfares increasingly tends to be described as "generic".   This email was sent to carpenter.autoblog@gmail.com.  Manage Your Account Don't want to receive this feed any longer? Unsubscribe here.