Q:

Why should I use a Health Care Flexible Spending Account for reimbursement rather than deducting my medical expenses on my federal income tax return?

2
Like
Answer
Comment
Flag
Thanks for your feedback!
A:

1 Answer

rank
1
2
Like
Comment
Flag
Only medical expenses that exceed 7.5% of your Adjusted Gross Income (AGI) can be deducted on your federal income tax return. Before-tax Health Care Flexible Spending Account contributions are tax-free (for federal tax purposes). You do not have to meet the 7.5% AGI threshold before receiving the tax savings. Money set aside through a Flexible Spending Account is also exempt from FICA taxes. Return to top.
acclarisonline.com
/acclaris/common/FSA FAQs IBM.html
This link is broken. Help us!

Related Videos

Add your answer...

Top Related Experts

1.
Otar Shubitidze
Health Care expert · Articles · 0 Likes
2.
3.
Amy Sandhu
Health Care expert · Articles · 0 Likes
4.
Martina McAtee
Health Care expert · Articles · 0 Likes
5.
Wanda Hardy Cook
Health Care expert · Articles · 0 Likes

Top Answerers

1.
Cheap SSL Certificates
7 Answers in the past week
2.
vanity fair
7 Answers in the past week
3.
Robert Turner
4 Answers in the past week

Top Askers

1.
Frank Bell
2 Questions in the past week
2.
Frank Bigaglow
3 Questions in the past week
3.
Charles McAtee
2 Questions in the past week

Top Supporters

1.
Tom Wagner
9 Likes given in the past week
2.
Susan Brunner
3 Likes given in the past week
3.
CableAnd OtherThings Too
2 Likes given in the past week
...