FSA Limits 2013

Beginning Jan. 1, 2013, employee contributions to health Flexible Spending Accounts (FSA) will be limited to $2,500 per plan year, with future increases to allow for inflation. The new requirement applies to all FSA plans whose taxable years begin after Dec. 31, 2012 — even plans grandfathered under other provisions of health care reform.   The [...]

FICA Limits 2012

FICA Limits 2012

FICA Limits 2012 — Likely To Increase Next Year 2011 saw temporary tax cuts for employees; there was a 2% reduction of FICA taxes for all employees. Typically, FICA taxes are collected on 7.65% of earnings. Prior to 2011, the rate has been 7.65% since the 1990s, but with the tax break, the 2011 FICA [...]


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