Understanding 125 Plans: A Smart Approach to Employee Benefi

An IRS Section 125 cafeteria plan is a pre-tax dollar-based benefits scheme whereby staff members may select among a variety of options. The name “cafeteria” stems from the adaptability of the scheme—it provides a menu of choices from which users may pick depending on their particular need. This system not only lets staff members customize their benefits package but also results in large tax savings.

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