Did the title get your attention? I guess it did as your reading this. Well, I did get a 21% return on my latest investment. Here's what I invested in, are you ready? Braces for my 13 year old son. Stay with me and I'll explain.
Based on my adjusted gross income, my federal tax bracket is 15% and my stage is 5%. I'm participating in our church's flexible spending account program (FSA). An FSA allows you to set aside dollars on a pre-tax basis (Federal & State) for qualified medical, dental, and vision costs. Braces are qualified dental cost. When I pay the dentist, I'm using my debit card and that give me 1% back on purchase.
Cost of braces $4,100 (OUCH!)
Flex Spending & Debit card % of 21% = $861 still in my pocket.
Hey, if you have to pay for stuff like this, it's called life, take advantage of the opportunities available to you. Looking at saving $861 putt's me in a better frame of mind then looking at paying $4,100.
Saturday, March 10, 2007
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