Flexible Benefits: Let's Be Flexible


Flexible spending accounts, used most commonly for health care and dependent care, allow employees to open tax-deferred savings accounts to meet health care expe

nses not covered by insurance plans or to pay a day care center, for example. However, these accounts must be spent by yearend or the money is forfeited.

Average contribution from participating employees for

Health care . . . . . . . . . . . . $744

Dependent care . . . . . . . $2,848

Average savings forfeited at year end . . . . . $136

Employers offering flexible health care accounts reporting forfeitures . . . . . . 91%




 

©1998 AICPA

SPONSORED REPORT

Cybersecurity threats proliferating for midsize and smaller businesses

This report details how SMBs can properly protect private information from breaches, design and implement a cybersecurity policy, and create safeguards for training and education.

CHECKLIST

Being responsive to clients

CPAs and their firms have daily pressures and hectic schedules, but being responsive is crucial to client satisfaction. Leaders in the profession offer advice for CPA firms that want to be responsive to clients.

QUIZ

Test yourself on these often confused words

The spelling checker on your word processing program can do only so much to flag problems. Your best insurance is to learn the troublesome words that trip up writers and use them correctly by the standards of formal, written English.