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Section 125
Section 125 is a portion of the Internal Revenue Code that allows a company's employees pre-tax spending for benefits. It is divided into three main areas:
- Premium pre-tax: allows employees to pay their share of the health, dental, and life insurance premiums with before-tax dollars.
- Dependent care: allows employees to set aside $5,000 on a pre-tax basis for daycare.
- Flexible spending accounts: allows employees to set aside some of their own money to cover additional benefits such as vision care, orthodontia, fitness clubs, etc., on a pre-tax basis.
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...allows employees to pay their share of the health, dental, and life insurance premiums with before-tax dollars... |
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Dixon Associates serves companies in Eastern Massachusetts. These products can vary substantially from state to state. These descriptions are based on Massachusetts legislation. |
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