Ellen PhillipsTax tip
If you are itemizing your deductions, you can deduct medical and dental expenses on Schedule A of Form 1040 but only the portion of your medical expenses that exceeds 10 percent of your Adjusted Gross Income (AGI). Uncle Sam tells us this is the only place on your tax return where you can directly deduct medical expenses. (Be sure to count all costs associated with medical providers' visits and hospital stays, prescription medicines including insulin, insurance premiums if they were not paid for with pre-tax dollars or deducted elsewhere. Also include long-term care premiums and transportation for medical care.) Conversely, if you take the standard deduction rather than itemizing deductions, you cannot deduct your medical expenses.
I get lots of email from people pitching ideas for columns. Some catch my fancy. Kyle James' coupon website www.rather-be-shopping.com is a great example. The latest link to her blog came at just the right moment: the best March buys and where to purchase them for less. (Visit Kyle's site for the complete list and for coupon goodies.) Always check the individual store to ensure it's actually involved in the specific merchandise sale.
* Luggage: Yearning to travel to warmer climes? If you need or want new suitcases for the journey, now's the time to buy. eBags.com is worth checking out. A Rockland Luggage three-piece Carnival Hardside Spinner set that normally retails for $450 sells for $149.99. Luggage online.com, another go-to, sells select Samsonite, Delsey andTravelPro pieces for 67 percent off. What a steal from both!
* Winter apparel. On the other hand, if you're stuck in the colder regions (although we've certainly had our own share this winter), you may need clothing to replace what's recently frozen off your poor bones or, perhaps, to put up for next year. Several companies dramatically reduce their prices during this month; jackets, scarves, boots, and so forth can be had for a song (or at least for a concert, depending upon the store). Kyle James suggests Land's End, Ann Taylor, American Eagle, and Old Navy for money-saving purchases.
* Vacuum cleaners. Many of us begin to spring clean our homes in March, and I expect some to do so this year out of the sheer hopes that springtime really is coming. To this end, Kyle tells us that vacuum cleaners are a genuine bargain in March. Because dealers present their new models in early summer, they put their 2014 vacuums on big sale this month for 30-40 percent less than the original MSRP. Go shopping at Home Depot and Lowe's, among other local dealers.
* Golf equipment. Assuming Mother Nature actually intends for spring to arrive sooner than later, golfers should begin shopping clearance deals. 2014 versions can save big bucks if you check what Kyle calls "key stores," including Golfsmith.com and Dick's Sporting Goods.
* Tax Tip: If you are itemizing your deductions, you can deduct medical and dental expenses on Schedule A of Form 1040 the portion of your medical expenses that exceeds 10 percent of your Adjusted Gross Income (AGI). Uncle Sam tells us this is the only place on your tax return where you can directly deduct medical expenses. (Be sure to count all costs associated with medical providers' visits and hospital stays, prescription medicines including insulin, insurance premiums if they were not paid for with pre-tax dollars or deducted elsewhere to also include long-term care premiums, and transportation for medical care.) Conversely, if you take the standard deduction rather than itemizing deductions, you cannot deduct your medical expenses.
Ellen Phillips is a retired English teacher who has written two consumer-oriented books. She may be reached at consumerwatch@timesfreepress.com.