- Published on
Time to Spend Your 2022 FSA
- Jessie Jimenez
If you have a Flexible Spending Account, this is a good time to submit your receipts and bring the balance to $0. The funds in your FSA will expire and return to your employer around the end of the year. This is money that you have been paying into the account monthly, so you don't want to lose that money, you had better use it. You will then be able to lower your taxable income by the account balance.
There are different types of FSAs including those aimed at health care expenses, childcare expenses, and even travel expenses.
Note: This is different from an HSA (Health Savings Account), where the money is yours and can be spent in later years.