Tax free income
Tuesday, June 10th, 2008A surprising number of feds don’t know about FSAFEDS, the flexible spending accounts administered by the Office of Personnel Management (OPM). These accounts let you pay for health and child care with before tax dollars, resulting in savings of 20-40% over after tax dollars, yielding savings of up to $4000 per year depending your tax rate. There are two kinds of accounts most people use:
