Thursday, February 24, 2011

Tax Incentive for a Mom!

The IRS announced that breast feeding supplies now qualify as medical care expenses.  We can use our FSA, HSA, or you can itemize them on the Schedule A effective 2010 tax year.  Yahoo!  Is it bad this confirms my decision to breast feed?  I guess I am a true accountant :) 

Of course the IRS is very loose on wording.  "Supplies that assist lactaion"  I can only imagine the crazy things people will try to pull over on their returns!

The IRS does note they do not say breast feeding vs. formula is better, but formula is classified as "food" and can't be deducted...ummm...

Oh well, one more way to keep my money from the government!

Parenthood = finding new tax savings!

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