In the grand scheme of things this doesn’t really matter and won’t affect us long term but that doesn’t mean I won’t try to optimize.
My wife is wanting a new treadmill and saw that we can purchase them using HSA funds. We currently max out our HSA and have $85,000 in it, with $75,000 invested in FZROX and $10,000 cash. I’ll get a $2500 company contribution in January. We are 40 with no known health problems and no children.
She is looking at a Sole F80 on sale for $1600.
I have avoided spending our HSA to let it grow but am considering using the funds for the treadmill. We are in the 32% federal tax bracket and have a 4.75% state tax so I’m considering it getting a 37% discount using pretax funds.
Any reason not to use the HSA funds and save a little on taxes?
My wife is wanting a new treadmill and saw that we can purchase them using HSA funds. We currently max out our HSA and have $85,000 in it, with $75,000 invested in FZROX and $10,000 cash. I’ll get a $2500 company contribution in January. We are 40 with no known health problems and no children.
She is looking at a Sole F80 on sale for $1600.
I have avoided spending our HSA to let it grow but am considering using the funds for the treadmill. We are in the 32% federal tax bracket and have a 4.75% state tax so I’m considering it getting a 37% discount using pretax funds.
Any reason not to use the HSA funds and save a little on taxes?
Statistics: Posted by WhatsIRR — Mon Nov 18, 2024 7:48 pm — Replies 2 — Views 364