The end of the year is approaching, and I want to share with you a few last-minute year-end financial to dos. These may or may not apply to you and so definitely assess your situation and consult a tax professional as necessary.

Flexible Spending Account- Review your flexible spending account (FSA) to determine whether there is any action that you need to take. Some employers provide a grace period of ~2 months after year end for you to use your FSA while other employers allow you to carry over $500 from one plan year to the next. So again, check your FSA balance and your employers’ rules to determine any necessary action.

W2 E-delivery- Why wait to get your W2 mailed when you can have it e-delivered? If you can sign up for e-delivery now, then do so before you forget about the deadline.

Charitable Contribution- If you have it in your heart to give more this year then it helps you financially as charitable deductions reduce your taxable income when you itemize deductions. Charitable donations can be in the form of cash or in-kind donations.

PTO Review- If you are at risk of losing PTO days then see if you can get an exception to have your PTO carry over. PTO days are essentially cash so if you lose PTO days then you are giving away money. You work too hard to give away money. Ask for a one time exception and take your PTO regularly going forward.

Financial Review- The end of the year is a good time to do a financial review. Assess your money spent for the year and note any changes needed for 2019. Did you spend too much in one area? Did you make enough money? Did you not meet your savings goals? Did you accumulate more debt? Ask yourself the tough questions so that you can do better in the new year.

You are almost out of time so go ahead and prepare your finances for the new year and watch your bottomline!!!! #faceyourfinances