Your Tax Refund and LASIK Eye Surgery: How to Use ItAuthor: Dr. William Tullo
February 19, 2014
Many people take advantage of tax refunds to travel, build savings, or pay off debt. You can put yours toward the cost of LASIK eye surgery with a few fast steps.
Step 1: File taxes
First, file your taxes as usual. Follow your regular system of brokerage firm, accountant or tax software. Filing opens January 31 in the United States and roughly the second week of February in Canada. The United States processes about 90 percent of all refunds within three weeks. Use this is a benchmark to gauge when you should book your LASIK consultation.
Step 2: Book your LASIK consultation
While the government processes your refund, you can use this time to have your LASIK eye surgery consultation. This eye exam (often free) is where you learn if you’re a laser vision correction candidate. (For instance, your corneal thickness and tear production will fall into certain ranges.) If you meet the LASIK eye surgery requirements, you can schedule your procedure. (If not, take that trip after all.)
Step 3: Day of LASIK eye surgery
If you complete your procedure during tax season, your eyes will have months to heal in time for summer. Treat yourself to new sunglasses or a vacation, or simply see the world through your corrected vision.
Step 4: Deduct LASIK
For some people, LASIK eye surgery can be a deductible medical expense. This is based on how much you make before taxes and how much you spend on medical costs (including LASIK eye surgery). Seek a professional’s guidance when making tax deductions.
Saving for LASIK
If you’re not ready to have laser eye surgery this year, plan ahead for next year. The average cost of Custom Bladeless LASIK is about $2,000 per eye in the United States. Estimate your next tax refund with a multi-step tool, so you can plan ahead for using next year’s refund for paying for your laser eye surgery procedure.