Looking for Tax Savings?

$$ Try our Cafeteria Plan! $$
FCF Benefits and Administration
 
 
 

Please estimate and enter amounts in the first column if they apply to you.  After entering all amounts, hit 'Calculate Worksheet', at the bottom of the column, to determine your estimated tax savings with the Cafeteria Plan!

 
 

Section 125 -or- Cafeteria Plan Benefits

Total Cafeteria Plan Tax Savings!
1. Insurance Premiums Monthly Amt.

Please estimate your monthly paycheck deductions on the following premiums, and enter in the appropriate box
Major Medical/HMO $
Dental $
Disability $
Critical Care $
Term Life $
Vision $
Other $
Sub Total $
2. Medical Expenses  Monthly Amt.

Please estimate the most money you would spend per month on the following expenses
Co-payments, Prescriptions, Glasses, Contact Lenses, Dental Fees, etc... $
Sub Total $
3. Dependent Care Monthly Amt.

Please estimate the most money you would spend per month on the following expenses
Child Care $
Other $
Sub Total $
Total Cafeteria Plan Benefits:
Insurance Premiums Sub Total: 1.
Medical Expenses Sub Total: 2.
Dependent Care Sub Total: 3.
$
  TAX BRACKET: x %
CAFETERIA PLAN TAX SAVINGS (per month): $

Enroll in the Cafeteria Plan now!!

Medical Expenses are costly and can reduce the amount of your spendable income significantly.  By allocating Medical Expense deductions to be taken out of your gross paycheck, you can save a considerable amount of money in taxes.  Eligible Medical Expenses apply to both you, your spouse, and anyone you claim as a dependent on your tax return.  Click here for a list of eligible expenses. 
Dependent Care expenses are also costly.  The IRS allows for up to $5,000 annually to be deducted from your gross paycheck.  Meaning that you could save up to $1,500 in taxes per year!  Dependent Care may also be applied to elderly parents that rely on you for at least 50% of their support.  And if the care is not provided by a custodial nursing home