Both
the
business
and
the
employees
are
helped
when
you
take
advantage
of
Section
125
Section
125
is
a
provision
of
the
Internal
Revenue
Code
that
allows
employees
to
pay
their
share
of
the
cost
of
certain
group
insurance
benefits,
unreimbursed
medical
expenses,
and
dependent
care
expenses
with
pre-tax
dollars.
Business
can
save
their
portion
of
Social
Security
tax,
Medicare,
Workers’
Compensation,
payroll
and
any
other
state-required
taxes.
Employees
can
save
taxes
on
insurance
premiums,
out
of
pocket
health
care
and
related
child
or
dependent
care
expenses.
Any
dollar
the
employee
defers
into
the
flex
plan
is
withheld
before
any
taxes
are
calculated.
This
results
in
lower
taxable
income,
and
higher
take-home
pay! |
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