It’s that time again – when the FSA enrollment period rolls around and you should start thinking about your eligible expenses.
Sponsored by the MTA, the FSA is a pre-tax benefit plan that enables workers to save federal, state and social security (FICA) taxes on money used to pay for medical and certain other expenses and dependent or elder care. The bottom line is that by using an FSA, you get your tax break upfront, parceled out over the year in the form of lower tax withholdings on each paycheck. (more…)