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The Tax Break You Can't Afford to Ignore!
Welcome to one of the most attractive and valuable components of your company's benefits package: the Flexible Spending Plan. When you participate in this voluntary program, you use tax-free dollars to pay for a wide array of expenses which are not covered through your other benefits programs.
When you contribute to a spending account, you lower your federal, FICA, Social Security, Medicare and state taxes and increase your take-home pay. That means more money for you in each paycheck! The example that follows on the next page shows how a married person making $25,000 per year can save more than $1,800 in taxes annually by having your insurance premiums deducted pre-tax and by contributing $300 per month to spending accounts. The higher your tax bracket, the more you can potentially save.
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