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Calling all skincare enthusiasts, we've got exciting news for maximizing your summer glow and your wallet!

Shop Sephora with Your FSA/HSA!

Did you know you can now use your FSA or HSA contributions to shop for eligible skincare products at Sephora – sales tax-free?

That's right, stock up on sunscreens, acne treatments, and more from brands like Summer Fridays, Supergoop, and Dr. Dennis Gross – all while saving precious tax dollars.

Here's how to take advantage of this in 3 easy steps:

• Shop: Browse Sephora's list of FSA/HSA-eligible products (trust us, it's a long list!) and start shopping.

• Save: Request an emailed receipt at checkout (it's not automatically sent).

• Reimbursement: Submit your receipt to your benefits provider for reimbursement.

Easy, right? But before you dive in, some key points:

• Double-check: Review Sephora's FSA/HSA guidelines and consult your benefits provider to ensure you're using funds correctly.

• Disclaimer: This isn't financial advice. Talk to your accountant or financial professional to see if this strategy works for you.

• Bonus: You can still earn Beauty Insider points while using your FSA/HSA! Double win!

What are HSAs, Anyway?

HSAs, or Health Savings Accounts, are powerful tools for those with high-deductible health plans. Here's the rundown:

• Tax Advantages: Contribute pre-tax dollars to cover various medical expenses (excluding premiums). Both you and your employer can contribute, reducing your taxable income.

• Investment Growth: Grow your HSA with tax-free investments like stocks and bonds.

• Triple Tax Savings: Contributions are tax-deductible, earnings grow tax-free, and qualified medical expense withdrawals are tax-free!

Think of it as a 401k for healthcare, with the added bonus of using funds at Sephora (on select products)!

How do HSAs Work?

Similar to a 401k, HSAs are owned by you and can be funded by you and your employer. The magic comes in the triple tax advantage:

• Tax-deductible contributions

• Tax-free earnings

• Tax-free withdrawals for qualified medical expenses

Who's Eligible?

Workers with high-deductible health plans can participate. Many employers help with enrollment, and self-employed individuals can open HSAs at major banks or credit unions.

Contribution Limits & Deadlines:

• 2024 Contribution Limits: $4,150 (individual) or $8,300 (family). Bonus: Individuals over 55 can contribute an extra $1,000!

• Contribution Deadline: April 15th of the following year.

• Withdrawals: Tax-free for qualified medical expenses. Beware of penalties for non-qualified withdrawals.

So, there you have it! Summer skincare just got a whole lot more affordable with HSAs and Sephora. Be sure to consult your benefits provider and financial advisor to see if this strategy is right for you.

If you want to learn about FSA’s: Flexible Savings Accounts, reply to this email and we’ll cover that soon!

What’s Happening at Carry?

Here’s what you can expect in the coming weeks

See the full list of events here. ⏰

Want More?

Still can’t get enough? Well, we’ve got you covered!

Think your friends might like it? Be sure to share it with them! 📩

If you want more resources on building wealth as a solopreneur/entrepreneur, check these out:

• The Solo 401k handbook 

• The Roth IRA handbook 

• The Self-Directed IRA handbook 

• The Guide to Paying Less in Taxes

• What is a Solo 401k?

• How to Open a Solo 401k