Employer Tax Savings Calculator
Estimate the tax savings for your plan
Welcome to the BESTflex Plan Employer Tax Calculator.
We created this tax calculator so that employers could estimate their potential tax savings once they implement the BESTflex Plan.
Our BESTflex Plan Employer Tax Savings Calculator will automatically calculate your tax savings as you fill out the calculator. All fields are required.
BESTflex Plan tax savings:
The BESTflex Plan offers convenient tax savings to businesses, 7.65 percent in social security taxes on every dollar participants contribute to the plan. This 7.65 percent in tax savings can be enough, in some cases, to offset the costs of offering the BESTflex Plan.
Our statistics indicate that approximately 35-40 percent of the employee population participate; the average Health Care Flexible Spending Account election is $1,200 and the average Dependent Care Flexible Spending Account election is $3,300.