Estimate Your Personal Tax Savings

"Reduce Your Tax Burden and Increase Your Spendable Income!"

This worksheet will show you how you can save on your taxes by participating in your company's flexible spending account programs. Simply select your Filing Status, enter your Monthly Salary, the Pre-tax Contributions you would make if participating in the program, and the After-tax Expenses you would incur if you were not participating in the program. Click the Calculate Now button and the rest of the form will be completed. The following form will show you how much you'll save with a spending account. To start over click the Clear Form button.

1. Select your Filing Status.
2. Enter your Salary.
3. Estimate Pre-Tax Spending.
4. Enter current Post-Tax Spending.
5. Click Calculate Now.

Filing Status:
Monthly Salary
Pre-tax contributions to spending account:
	Premiums: Enter the amount deducted from your paycheck each month to cover yourself, spouse, and/or children.
	Health Care Expenses: Enter the average amount you spend each month for medical, dental, and vision expenses for yourself, spouse and/or children that are not covered by insurance.
	Child/Elder Care Expenses: Enter the average amount you spend each month for day care babysitting expenses that are necessary for you to work.
After-tax expenses without spending account: Assume these expenses total, in value, the same as the total expenses entered above for the Premiums, Health Care and Child/Elder Care categories combined.

	Without Spending Account	With Spending Account
Gross Monthly Salary
Spending Account Contributions (Pre-tax)
Taxable Monthly Salary
Federal Income Taxes
Net Spendable Salary
Post-tax Expenses (w/o Spending Account only)
Net Spendable Salary
Increase in Monthly Salary
Spendable Monthly Salary
Increase in Annual Income
Spendable Annual Income

As you can see, the largest annual spendable income is associated with participating in your company's flexible spending account program(s).

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