Before we lose time to do anything to save money or to make sure we are not “leaving money on the table” with our employer there are things you should do TODAY :
Check with your HR department or payroll administrator and find out if you have maximized your retirement contributions within your 401(k) or SIMPLE. If you are self-employed see if you can maximize your contributions.
Double check if you have any flex spending money available to use prior tot he end of the year. Remember these funds must NOT be used for over the counter ( OTC) medications.
Along that same note if you have an HSA have you contributed the maximum for your age. Unlike Flex spending HSA money NEVER is lost. You are not required to use the money in any one year and it goes with you when you change employers or retire. I prefer HSA accounts as a salary reduction benefit since you never lose the money.
Check back as through out the next couple of weeks I’ll posting things you need to do to save yourself money on your 2017 tax bill.