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Tax benefits of cafeteria plans.

Publication: The Tax Adviser
Publication Date: 01-OCT-04 		Format: Online - approximately 689 words
Delivery: Immediate Online Access

Article Excerpt
As healthcare and childcare costs continue to climb, flexible spending accounts--or cafeteria plans--have been gaining in popularity.

Definition

Cafeteria plans provide cost conscious companies with a way to extend additional pre-tax benefits to employees, who can customize a plan to meet their needs; the cost savings benefit employees and employers alike. Such plans also bolster employees' morale, as well as their wallets; see the Exhibit on p. 608.

A Sec. 125 cafeteria plan is a written document authorized by the IRS. It is a "menu" of benefits. Each employee selects the benefits he or she wants (e.g., medical care, childcare), then...

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