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Certain retirement plan, such as 401(k) and 403(b), contributions (http://www.irs.gov/publications/p525/ar02.html#d0e2242). Certain parking and transit expenses (http://www.irs.gov/formspubs/article/0,,id=181059,00.html). Medical and long term care insurance payments, Health Savings Accounts (HSA), Medical Savings Accounts (MSA), Health Reimbursement Arrangement (HRA), and Flexible Spending Account (FSA) contributions (http://www.irs.gov/publications/p969/index.html). Dependent care expense FSA contributions (http://www.irs.gov/faqs/faq/0,,id=199775,00.html).

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Q: What can legally be deducted pre-tax from an employee's paycheck?
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What is the definition of the term Pre-tax?

The definition of pretax simply means before taxes are deducted. The benefits of having other deductions taken off one's pay pretax is that one will pay less income tax, leaving more cash in one's paycheck.


What is pretax?

An amount removed from pay before taxes are deducted. For example, some 401(k) plans are a pretax contribution - the deduction is made before the taxes are figured, thus lowering your tax liability.


What is pretax FEHB incentive?

The Pretax FEHB incentive is to ensure a high reputation for employees and clients. They specialise in safety and ensuring everyone is a happy customer with absolutely no complaints.


Can you deduct insurance premiums on taxes?

Depends on how you paid the premiums. If you paid the premiums on a pretax basis, then you cannot declare the premiums. Many COBRA payments, retiree insurance payments and so on can be deducted.


What does FSA eligible mean?

FSA Flexible Spending Account: A voluntary plan set up with your employer to withhold a portion of your paycheck, pretax, to pay for approved health care expenses


Can you deduct group insurance premiums on taxes?

Depends on how you paid the premiums. If you paid the premiums on a pretax basis, then you cannot declare the premiums. Many COBRA payments, retiree insurance payments and so on can be deducted.


Defined Contribution Plan?

Employee and/or employer contribute money to an individual retirement account. The employee is responsible for choosing how these contributions are invested and how much to contribute form their paycheck through pretax deductions.


What is Pretax Group's population?

Pretax Group's population is 1,100.


When was Pretax Group created?

Pretax Group was created in 1944.


Does pretax need to be hyphenated?

The word pretax can be used either with or without a hyphen.


What is post tax deduction?

Post tax deductions are deductions that are figured after taxes have already been taken out, such as a pay advance repayment. Pretax deductions are deducted from gross pay, then federal and state income taxes are determined on the net amount.


What effect do pretax salary reductions have on the federal income tax?

what effect do pretax salary reductions have on the federal income tax?