Flexible Spending Accounts

Here’s a benefit that lets your employees reduce their tax burden and increase their take-home pay!

Frank Berlin & Associates can help your company sponsor a "Flexible Benefits Plan," a cafeteria plan that lets employees use pre-tax dollars to pay for some insurance premiums, unreimbursed medical expenses and child/dependent care expenses. By depositing a portion of their gross pay into a Flexible Spending Account, employees reduce their Social Security tax, federal income tax and, in most states, state and local taxes.

In addition to helping your employees keep more of their money, your company will also save because, when employees elect for pre-tax payroll deduction, their lower adjusted gross income reduces matching FICA and Federal Unemployment Tax.

Ask us for more information.