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Tax Savings Programs
Tax Savings Benefits: Section 125 or Section 132 Commuter plans
A Section 125 Cafeteria plan, often referred to as a "Flexible Spending Account", allows companies to give their employees the opportunity to pay for benefits on a pre-tax basis. Pre-tax benefits lower payroll-related taxes for both the employer and employee. These benefits may include daycare expenses, insurance premiums and most out-of pocket medical cost. Commuter plans allow employers to offer employees the opportunity to set aside a portion of their salary to pay for certain transportation expenses.
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