FSAs may be more common for bigger businesses, but the savings don’t have to be small.
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Rather than your true love sending you a partridge in a pear tree, wouldn’t you appreciate some money-saving tax tips? For my year-ending 12 Tax Days of Christmas series, I’ll dig back into the archives of previous topical columns to reiterate understandable, realistic and legitimate tax strategies that you need to implement now in order to have a much smaller tax bill come April 15.
Related: The 12 Tax Days of Christmas: Day 10
For the 11th tax day of Christmas, we’re going to break down a year-end tax-savings strategy that’s typically more applicable in a corporate enviornmnent than among smaller businesses. Nevertheless, Flexible Spending Accounts, or FSAs, can be a great way to get reimbursed for expenses related to the job that shouldn’t have to come directly out of your end. So if FSAs are an option in your company and you want to take advantage, collect all those receipts and submit them by December 31, and hopefully enjoy what could be a not insifiicant financial relief. And for more, watch the video above.
https://www.entrepreneur.com/article/344337