Flexible Spending Account

Flexible Spending Account

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Description

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. A flexible spending account (FSA), also known as a flexible spending arrangement, is one of a number of tax-advantaged financial accounts that can be set up through a cafeteria plan of an employer in the United States. An FSA allows an employee to set aside a portion of his or her earnings to pay for qualified expenses as established in the cafeteria plan, most commonly for medical expenses but often for dependent care or other expenses. Money deducted from an employee's pay into an FSA is not subject to payroll taxes, resulting in substantial payroll tax savings. One significant disadvantage to using an FSA is that funds not used by the end of the plan year are lost to the employer.show more

Product details

  • Paperback | 72 pages
  • 152 x 229 x 4mm | 118g
  • Junct
  • United States
  • English
  • 6136698102
  • 9786136698106