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Is this true or false that the spending chain process consists of the acquisition process and the accounts payable process?
True, The Spending Chain Process consists of the Acquistion Process and the Accounts Payable process.
What is federal flexible spending account?
A pre-tax spending account that lets you use tax free dollars on eligible medical, childcare, public transit, and parking expenses. FSA accounts typically save roughly 25-30% of your money in taxes. But you need to make sure to use your money during the plan years as unused funds are forfeighted at the end of the year.
Can you use flexible spending account and claim medical expenses?
Yes but you can NOT deduct the medical expenses that are paid for from your FSA account.
Is it possible to get an individual Flexible Spending Account FSA as an independent contractor 1099?
An independent contractor can get a Flexible Spending Account (FSA) if they meet the qualifications to have an FSA. They must be covered under a high deductible health insurance plan and have no other health coverage. They can not be enrolled in Medicare or be claimed as a dependent on anyone's taxes.
A favorable spending variance occurs when the actual cost is less than the amount of that cost in the flexible budget true or false?
True
Will a flexible spending accounts help build credit?
No
What is the name for reimbursement accounts for qualified medical and childcare expenses?
What is the name for reimbursement accounts for qualified medical and child care expenses? A. cafeteria plans. B. deferred compensation plans. C. option plans. D. flexible spending accounts. d
What banks offer flexible spending accounts?
Flexible spending account is one of the benefits offered by US Bank catering for one's healthcare payment. It is one way of reaping tax savings and helping individuals come up with smarter decisions to stay healthy.
What are ADP's benefit services?
The ADP provides benefits for companies that include health and welfare solutions, flexible spending accounts, retirement services, and compensation services.
Can a couple have two separate flexible spending accounts from two different employers?
Yes. Just like insurance tough you just can't get paid 2x for the same expense. (Once it is paid the first time, you have no expense really for the 2nd). Yes, you can have two separate flexible spending accounts from two different employers. However, the total amount that is put into both plans combined is limited by the IRS. For example, the maximum that a couple can put into a dependant care flexible spending account in 2007 is $5,000. If you and your spouse contribute more than that, you would lose the amount over $5,000. It would not be legal to submit the same expense to two different flexible spending account plans.
Can you have an Flexible spending account if you are on Medicare?
yes
Are flexible daycare spending accounts good?
The advantage of a flexible daycare account is that the money is tax free. While you might be able to deduct some, most or even all of the money at the end of the year when you file your taxes, this gives you the advantage of not having to mess with the tax calculation. Also, there are often minimums and maximums for spending that must be met before you can deduct them.
Do you owe taxes on unused flexible spending dollars?
no
Benefits of the KFC?
KFC offers a lot of benefits to their workers. Medical, dental, flexible spending accounts, supplemental vision, 401(K), profit sharing, and financial planning are available to employees of KFC.
Is the cost of my spouse's insurance premium reimbursable through my flexible spending account?
Yeah, the cost simply reimbursable through your flexible spending account. I guess that that's just reality
Must an employer offer Flexible spending account?
No, employers are not required to offer a Flexible Spending Account (FSA) to their employees. However, offering an FSA is a benefit that some employers choose to provide to help employees set aside pre-tax dollars for certain eligible expenses like medical or dependent care.
Where does one learn more about the benefits of having a flexible spending account?
You can find out about the benefits of having a flexible spending account anywhere on the Internet. You can get good information on FinancialPlan. They tell you all the things about saving and budgeting.
