In case you missed it when I wrote about Guidance from the IRS on Flex Spending Plans – one of the changes you’ll have to deal with beginning with 2011 is that you can no longer use your Flex-Spending Account (FSA) to reimburse yourself for over-the-counter drugs like you’ve been able to do in the past. However, there is a way to get the over-the-counter (OTC) drugs that your physician recommends and use your FSA funds to pay for it… if your physician gives you a prescription for it. Even though the IRS has disallowed the use of FSA funds for OTC drugs, if your physician gives you a prescription for the OTC drug, your FSA can be used to pay for the drug. There are some rules though: first, the prescription has to provided to the pharmacist prior to the purchase, and the pharmacist must dispense the drug just […]
Independent financial advice: IRA, Social Security, income tax, and all things financial
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Jim Blankenship, CFP®, EA
Phone 630-40-DUCKS (630-403-8257)
jim@blankenshipfinancial.com
Twitter: BlankenshipFP / Financialducks
Facebook: Jim Blankenship
LinkedIn: BlankenshipFP
Amazon: Author PageJim provides expert guidance for
your Retirement, Education Funding,
and Income Tax issues and concerns.In addition to this blog, you’ll find Jim’s writings all around the internet, as he is a regular contributor to Forbes.com, TheStreet.com, and FiGuide. Several other sites also republish his work.
He has also written five books on Social Security, IRAs, 401(k) plans, and Medicare. See below for more on the books.
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Sterling Raskie, MSFS, CFP®, ChFC®
Phone 630-40-DUCKS (630-403-8257)
sterling@blankenshipfinancial.com
Twitter: SterlingRaskie
LinkedIn: SterlingRaskieSterling provides expert guidance for your Retirement, Insurance, Education Funding, Investments and Income Tax issues and concerns.
In addition to this blog, you’ll find Sterling’s writings all around the internet. Sterling is also an adjunct professor teaching courses in math, finance, investments and insurance.
The books!
The latest in our Owner’s Manual series, A 401(k) Owner’s Manual, was published in January 2020 and is available on Amazon at this link. This book includes all of the updates to retirement plans with passage of the SECURE Act.
A Medicare Owner’s Manual, is updated with 2020 facts and figures. This manual is available on Amazon at this link.
Social Security for the Suddenly Single can be found on Amazon at this link. This book is narrowly-focused on divorcee Social Security strategies and rules. It is also available in a Kindle version.
Sterling’s first book, Lose Weight Save Money, can be purchased by clicking this link. The book is also available on Kindle, which you can find at this Kindle version link.
An IRA Owner’s Manual, 2nd Edition is available for purchase on Amazon. Click the link to choose the paperback version, or the Kindle version.
Jim’s book – A Social Security Owner’s Manual, is now available on Amazon. Click this link for the Amazon ordering page.Queuing Waterfowl
In case you hadn’t already noticed, this blog doesn’t have much to do with ducks – or any waterfowl for that matter.
No, what we’re doing here is talking about all things financial; getting your financial house in order. Here in the Midwest, “getting your ducks in a row” implies organization, which is one of the outcomes of having a better understanding of your financial life.
I hope you find the answers you’re looking for among the articles here, and perhaps a smile. If you can’t locate your answer, drop me an email or give me a call – we’ll see what we can find for you.
And if you’ve come here to learn about queuing waterfowl, I apologize for the confusion. You may want to discuss your question with Lester, my loyal watchduck and self-proclaimed “advisor’s advisor”.
