Why Enroll in a Flex Plan?
FSA | No FSA | |
---|---|---|
Annual Income (before taxes) | $50,000 | $50,000 |
Pre-tax Medical FSA Contribution | ($2,500) | $0 |
Pre-tax Dependent Care FSA Contribution | ($5,000) | $0 |
Taxable Income | $42,500 | $50,000 |
Estimated Taxes (27%) | $11,475 | $13,500 |
Available Income | $38,525 | $36,500 |
ESTIMATED SAVINGS | $2,025 |
Actual savings will depend on your salary, how much you contribute into the FSA, your tax bracket, and how you file your taxes (single, married, etc.).