Her Voice September/October
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FINANCIAL Pre-Tax Savings Accounts Are Designed To Pay for Child or Dependent Adult Care Employees who must care for children or have adult care responsibilities sometimes overlook the possibility of using an employer-sponsored Dependent Care Flexible Spending Account (DCFSA) to help out. Yet, these tax-advantaged accounts can provide impressive savings (depending on your tax bracket) when you use them to pay qualifying expenses. If you re caring for a child, an elderly parent or an adult relative who requires care while you work, it may be worth your while to take a close look at one of these accounts. Tax Advantages A DCFSA is a savings account from which an employee can pay for qualified dependent-care expenses. Aside from its specific purpose, it is similar to the Flexible Healthcare Spending Account. Your monthly employee contributions are diverted from your gross earnings and sent into a DCFSA. The pre-tax money thus accumulated can be used to pay qualified expenses (see accompanying story for a list) related to child and/or adult care. The money there is an annual cap of $5,000 per household per year can be used to pay for expenses that occur because the caregiver is at work or looking for work. It is not meant to pay for expenses you would incur anyway. Use or Lose Because employers set the rules for eligibility, you ll have to check with your company s benefits department to find out about signup details and learn exactly what services will be available, what the limitations are, and how your DCFSA will be administered. Keep in mind there is a use or lose rule associated with these accounts. That is, funds must be used during the defined benefit period, which runs from January 1 of one year to March 15 of the next. You ve worked hard for your belongings... Now let me put my 30 years experience to work for you. ~ A Complete Auction Serivce ~ Estate Antiques Household Farm Commercial 402 W. 5th St.,Yankton 605-665-5266 S S Auction Service Sherry Soukup, Auctioneer ...the auctioneer who works for you Massage therapy is an extremely effective treatment for a wide range of conditions, from common aches and pains to sports and car accident injuries. It also can be used as regular stress relief. To find out how you can benefit from massage therapy, call 605-260-0100 today. Experience the Touch HEALING of massage therapy Karyn Steffen, NCLMT Nationally Certified Licensed Massage Therapist Healing Hands Massage Therapy 16 HERVOICE SEPTEMBER/OCTOBER 2009 NEW LOCATION! Riverfront Place, 115 Broadway, Suite 6, Yankton 605-260-0100
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- Healing Hands Massage Therapy
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FINANCIAL Pre-Tax Savings Accounts Are Designed To Pay for Child or Dependent Adult Care Employees who must care for children or have adult care responsibilities sometimes overlook the possibility of using an employer-sponsored Dependent Care Flexible Spending Account (DCFSA) to help out. Yet, these tax-advantaged accounts can provide impressive savings (depending on your tax bracket) when you use them to pay qualifying expenses. If you re caring for a child, an elderly parent or an adult relative who requires care while you work, it may be worth your while to take a close look at one of these accounts. Tax Advantages A DCFSA is a savings account from which an employee can pay for qualified dependent-care expenses. Aside from its specific purpose, it is similar to the Flexible Healthcare Spending Account. Your monthly employee contributions are diverted from your gross earnings and sent into a DCFSA. The pre-tax money thus accumulated can be used to pay qualified expenses (see accompanying story for a list) related to child and/or adult care. The money there is an annual cap of $5,000 per household per year can be used to pay for expenses that occur because the caregiver is at work or looking for work. It is not meant to pay for expenses you would incur anyway. Use or Lose Because employers set the rules for eligibility, you ll have to check with your company s benefits department to find out about signup details and learn exactly what services will be available, what the limitations are, and how your DCFSA will be administered. Keep in mind there is a use or lose rule associated with these accounts. That is, funds must be used during the defined benefit period, which runs from January 1 of one year to March 15 of the next. You ve worked hard for your belongings... Now let me put my 30 years experience to work for you. ~ A Complete Auction Serivce ~ Estate Antiques Household Farm Commercial 402 W. 5th St.,Yankton 605-665-5266 S S Auction Service Sherry Soukup, Auctioneer ...the auctioneer who works for you Massage therapy is an extremely effective treatment for a wide range of conditions, from common aches and pains to sports and car accident injuries. It also can be used as regular stress relief. To find out how you can benefit from massage therapy, call 605-260-0100 today. Experience the Touch HEALING of massage therapy Karyn Steffen, NCLMT Nationally Certified Licensed Massage Therapist Healing Hands Massage Therapy 16 HERVOICE SEPTEMBER/OCTOBER 2009 NEW LOCATION! Riverfront Place, 115 Broadway, Suite 6, Yankton 605-260-0100
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