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Payroll Flexible Spending Account Calculator

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A Flexible Spending Account (FSA), sometimes referred to as a 'Cafeteria Plan' or 'Section 125 Cafeteria Plan', helps you keep more of your paycheck by reducing your Federal and state taxes. It allows you to pay certain expenses before taxes are deducted from your paycheck. These expenses include daycare, insurance premiums and many out-of-pocket medical costs. Use this calculator to see how participating in your employer's FSA can help you pay less tax, and increase your net take home pay.Withholding schedules, rules and rates are from "IRS Publication 15" and "IRS Publication 15T". This calculator uses the redesigned W-4 created to comply with the elimination of exemptions in the Tax Cuts and Jobs Act (TCJA).

Payroll Flexible Spending Account Calculator Definitions

Pay period
This is how often you are paid. Your selections are: Weekly (52 paychecks per year), Every other week (26 paychecks per year), Twice a month (24 paychecks per year), Monthly (12 paychecks per year), and Annually (one paycheck per year).
Gross pay
This is your gross pay, before any deductions, for the pay period. Please enter a dollar amount from $1 to $1,000,000.
Filing status
This is your income tax filing status. The choices are "Single", "Married" and "Head of Household." Choose "Married" if you are married, "Head of household" if you are unmarried with dependent children, "Single" if you file your taxes as a single person or if you are married but file separately.
Two jobs or spouse works
Check this box if you have two jobs that have similar annual pay, or if you are married and your spouse also works with similar annual pay. If you check this box, it is assumed that you have also checked this option on the other job (or your spouse's job). If the jobs do not have similar pay, the tax tables provided by the IRS will require more taxes than necessary to be withheld. This will result in a larger tax refund (or smaller shortfall if you have other tax liabilities) when you file your taxes.
401(k)/403(b) plan withholding
This is the percent of your gross income you put into a taxable deferred retirement account such as a 401(k) or 403(b). While increasing your retirement account savings does lower your take home pay, it also lowers your Federal income tax withholding. The impact on your paycheck might be less than you think. While your plan may not have a deferral percentage limit, this calculator limits deferrals to 80% to account for FICA (Social Security and Medicare) taxes. Please note that your 401(k) or 403(b) plan contributions may be limited to less than 80% of your income. Check with your plan administrator for details. **PLAN_CONTRIBUTION_MAX**
State and local taxes
This is the percentage that will be deducted for state and local taxes. **TAX_STATE_ALLOWANCE_TJA_DEFINITION** Please note, this calculator can only estimate your state and local tax withholding. The tax rate displayed is an assumption that may or may not be relevant to your situation.
Flexible Spending Account (FSA) Contribution
The amount that will be deducted from your paycheck each pay period for your FSA participation. All amounts are considered pre-tax deductions from your paycheck when you participate in your company's FSA plan. The tool considers these expenses to be ordinary after-tax expenses if you do not participate.
Medical FSA or HSA
The amount per period that you wish to contribute to a Health Savings Account (HSA) or Flexible Spending Account (FSA) for medical and dental expenses. All amounts you enter here are considered pre-tax deductions from your paycheck if you participate in your company's medical FSA. The tool considers these expenses to be ordinary after-tax expenses if you do not participate. **MAX_MEDICAL_FSA** This amount is indexed for inflation for future years.
Dependent care FSA
The amount per period that you wish to contribute to Flexible Spending Account (FSA) for dependent expenses. All amounts you enter here are considered pre-tax deductions from your paycheck if you participate in your company's dependent care FSA. The tool considers these expenses to be ordinary after-tax expenses if you do not participate. The maximum annual contribution is $5000 per household. If your spouse participates in dependent care FSA, the combined household limit is $5000.
Health insurance premium FSA
The amount per period that you wish to contribute to a Flexible Spending Account (FSA) for health insurance premiums. All amounts you enter here are considered pre-tax deductions from your paycheck if you participate in your company's medical FSA. The tool considers these expenses to be ordinary after-tax expenses if you do not participate. **MAX_MEDICAL_INSURANCE**
Adoption assistance FSA
The amount per period that you wish to contribute to a Flexible Spending Account (FSA) for adoption assistance. All amounts you enter here are considered pre-tax deductions from your paycheck if you participate in your company's adoption FSA. The tool considers these expenses to be ordinary after-tax expenses if you do not participate. Contribution limits for an adoption assistance are set by your employer's FSA plan. Unlike other FSA contributions, adoption assistance FSA contributions do not reduce your Social Security or Medicare taxes.
Year-to-date earnings
Your current year gross earnings that were subject to FICA taxes (Social Security tax and Medicare tax). This total should not include the current payroll period or any income from other sources or employers. The tool uses this amount to determine if you are required to have Social Security tax or additional Medicare tax withheld for the current payroll period. Typically, this is your gross earnings minus employer paid health insurance and any Flexible Spending Account (FSA) contributions. **TAX_YEAR_TO_DATE_DEFINITION**
Social Security tax
**TAX_SOCIAL_SECURITY_MAX** Please note that if you have other wages or employers this calculator does not make any assumptions as to the total Social Security tax withheld for the current year other than the actual inputs for this calculator. This tax is also referred to as the Federal Insurance Contributions Act Old Age Survivors and Disability Insurance (FICA OASDI).
Medicare tax
Medicare tax is calculated as your gross earnings times 1.45%. Unlike the Social Security tax, there is no annual limit to the Medicare tax. Starting in 2013, an additional Medicare tax of 0.9% is withheld on all gross earnings paid in excess of $200,000 in a calendar year. If you enter an amount for the year-to-date gross earnings, this additional Medicare tax will be calculated based on the current period's gross earnings that exceed the annual $200,000 threshold. If no year-to-date amount is entered, any additional Medicare tax withholding will be calculated only for any gross earnings in excess of $200,000 for the current payroll period. If year-to-date wages prior to the current payroll period have exceeded $200,000, the year-to-date wages must be entered to calculate an accurate additional Medicare tax.
Federal tax withholding calculations
**TAX_CALCULATION_TJA_DEFINITION**