Section 125 Plans
As a CPA, your clients expect your proactivity in helping them achieve every possible tax savings.
Count on Paychex to help your clients and their employees.
Section 125 plans can reduce your clients' payroll taxes and increase their employees' take-home pay at the same time. How? By lowering employees' taxable income and reducing social security (FICA) payroll taxes. Plans include:
- Premium Only Plans (POPs) which automatically deduct employee contributions before taxes.
- Flexible Spending Accounts (FSAs) which take pretax dollars to help pay for out-of-pocket expenses not covered by a company benefit plan, including:
- Dental, and
- Dependent care expenses.