If you have an FSA, make sure you are filing claims for all the money you can have returned. If you don’t use/claim the money before the deadline, you will lose it.
- Calendar the deadline for claims.
- Figure out if you need to spend more money in order to file a claim, say for new glasses.
- If you have a child care account, get the proper documentation in advance of the deadline.
FSAs can be a good tool for tax advantages, but you have to watch the deadlines and requirements so that you don’t end up losing money you worked hard for.