The benefits of having organizational systems in place are endless. Here are two simple systems to put in place before the year’s end.
Health and Wellness
If you have a healthcare flexible spending account, depending on the account, the money you contribute may need to be spent before the end of the year or you could lose it.
- If possible schedule appointments and toss expired items from the medicine cabinet and replace them with new items before year-end.
- Acupuncture, chiropractic, and potentially massage services, can be purchased with funds from the flexible spending account.
- Contact your FSA administrator for a list of eligible expenses and required documentation.
- In a clearly labeled section of an expandable envelope or an electronic folder, store your healthcare-related receipts for a particular year.
Donations and Giving
The end of the calendar year is an opportunity to make physical donations that could be deductible on your tax return.
- Clear out items from your pantry and closets and make room for new gifts that you and your family may receive.
- Designate an area of your home to keep a donation bag.
- Place a notepad and pen near your donation container and as you fill the box write a simple description of each item and its estimated value.
- Schedule a time to drop off donations and obtain a receipt from the donation center before the year-end.
- File your receipt and list of items donated with their estimated value in a folder labeled “Taxes YYYY”
May your simple and consistent organizational efforts pay you back – in health, goodwill, and much more!