The holidays are a hectic time of year, but there's one tax-related task you can't overlook.
If you have a medical flexible savings account, or FSA, you need to check its balance and make sure you don't end up wasting that money.
FSAs are popular for a couple of reasons.
First, you can use the account money to pay for items and services that aren't covered by your health insurance.
Second, these workplace-provided accounts save you tax dollars. The amounts are taken from your paycheck before your withholding taxes are calculated, so you owe a bit less in federal income and Social Security taxes upfront.
But FSAs have one drawback. If you don't use the money by the end of your benefits year, you'll lose it. For most people, that deadline is Dec. 31.
So before the end of the year, use that money up. Maybe you need a vision exam, an extra pair of glasses, or a dental checkup. Make that appointment before January 1.