Tuesday Tip – Tax Time Medical Expenses
On Tuesday’s I will now be having Tuesday Tips. Tuesday Tips will provide short ideas on how to make you financial life easier. The topic could be very general about saving money or very specific, like Line 25 on the Federal tax form means…
Today’s Tuesday Tip is Tax Time Medical Expenses
Since my wife has been blessed with fibromyalgia, asthma and other “fun” money needing medical conditions, we get to itemize our medical expenses. When tax time comes we are going through our receipts and trying to figure out how much we spent last year.
I use to save every prescription receipt. Now I go to the pharmacy and ask them to print out a last years prescription purchases.
Things to remember: 1) Each person over 18 has to request their own print out and may have to sign for it because of medical privacy. 2) Don’t forget the other pharmacies. The one that is close to the hospital open 24 hours that you had to get a prescription at 3 am because the kid was sick. Or the one you use that is closer to work, home, etc when you are in a hurry and don’t want to run all the way to the regular pharmacy.
Side Note: When ever possible try to keep all prescriptions at one pharmacy or chain that has one database (record) of your prescriptions. That way they can tell if two medications do not work ell together. Doctor’s sometimes forget about interactions of medications. They are specializing in your health. The pharmacist specializes in knowing about medications. If there is a problem the pharmacist will (should) call you doctor and discuss other medications for you.
Just my 2 cents. Jim @ ChangeJarSavings.com
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