Many Americans took whatever steps they could to protect themselves and others from COVID-19, including buying masks, hand sanitizer, and disinfectants. If you stocked up on supplies to help prevent the spread of COVID, you may be able to write those costs off. Not only that, but IRS guidelines also allow for the purchase of these supplies using tax-favored health savings accounts.
To learn more and find out whether you qualify, read this article from Bloomberg.
This communication is for informational purposes only. No content or reference to a third-party article is intended to be a recommendation for the sale or investment in any product, strategy or service nor should it be perceived as individual advice. This commentary does not necessarily reflect the opinions of all employees or XML Financial Group and its affiliates (“XML”). XML is not responsible for any actions taken related to this information.
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