Small business owners may be able to facilitate access to flexible spending accounts for their employees, which can be a useful benefit offering that allows individuals to allocate pre-tax dollars for medical expenses, dependent care and commuter costs.
Flexible Spending Accounts (FSAs)
A special account you put money into to use to pay for certain out-of-pocket healthcare costs. You don’t pay taxes on this money, which means you’ll save an amount equal to the taxes you would have paid on the money you set aside.
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