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Mid-Year Financial Tweaks and Tasks

Money Talk

Below are ten mid-year financial tweaks and tasks: Tax-Deferred Savings Tweak - Perhaps you will get a raise on July 1. Consider completing the paperwork needed to save more money from July to December in your employer’s tax-deferred retirement savings plan. The 2023 maximum pre-tax contribution is $3,050.

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Utilizing Pre-Tax Benefits to Prioritize Health in 2023

Benefit Resource Inc.

If you’re in the 70% of people who have health-related goals for 2023, let’s take a look at how pre-tax benefits can help set goals and prioritize your health this year and beyond. Whether it’s exercising more frequently or eating healthier foods, setting SMART goals is key when it comes to making positive changes in your life.

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HRA Gym Cost Reimbursement? Not So Fast Says IRS

InterWest Insurance Services

The IRS has issued a new bulletin, reminding Americans that funds in tax-advantaged medical savings accounts cannot be used to pay for general health and wellness expenses. If any of the three requirements is not met, the cost of food or beverages is not a medical expense.

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Health and Wellness Initiatives to Boost Employee Morale in the Winter Months

Benefit Resource Inc.

Let’s explore effective strategies for promoting employee well-being during the winter months and the role of pre-tax benefits in achieving this goal. Leverage Pre-tax Benefits Pre-tax benefits are a valuable tool for promoting employee health and wellness during the winter months.

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10 new eligible items you can buy with your pre-tax dollars

Benefit Resource Inc.

The CARES Act introduced new eligible items that you can purchase with funds from your pre-tax benefits accounts (FSAs, HSAs, and HRAs). Since the funds in these accounts are deducted from payroll pre-tax, you can save up to 40% on items that you already buy! Gastrointestinal Aids. Sleeping Aids*. Certain commonly used sleep aids (e.g.,

Taxes 77
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FSA eligible expenses — what purchases count?

Business Management Daily

Flexible Spending Accounts allow employees to set aside pre-tax dollars from their paycheck to use for medical or dependent care expenses. While flexible spending accounts are typically associated with medical costs there are a couple of different types of FSAs. Types of FSA Plans. Healthcare FSA.

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Take care of your teeth by doing these 3 things

Benefit Resource Inc.

Fortunately, there’s another option… Enroll in a Limited Purpose Flexible Spending Account (FSA). A Limited Purpose FSA (also known as a Limited FSA or Limited Medical FSA) allows you to pay for dental and vision services with tax-free money. Limit your consumption of sugary and acidic foods. for a cleaning.