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Savings Calculator...

Want to see just how much you can save by electing to join a Section 125 benefit plan? Estimate your medical expenses below and we'll show you the difference. This calculator uses the figures you key in and the current IRS Circular E to calculate your savings. This is the same form your employer uses to calculate your US Federal Income Tax withholding. Your savings shown are based on the withholding rate so you actual taxes owed may vary. Social Security & Medicare taxes are included in the calculation so you should enter the portion of your annual salary that is subject to FICA taxes. State income tax is not included in this calculation.

Instructions

Data Entry

Marital Status:

Your Annual Income:

Exemptions you claim on your tax return:

Monthly Health Insurance Premiums:

Monthly Dependent Care Expenses:

Monthly Medical Expenses:

Monthly 3rd Party Insurance:

married (filing jointly) single
$	use FICA salary from your form W-2 or estimate
	dependent care can be child or adult care. monthly medical expenses are any eligible out of pocket expenses. third party insurance is any health insurance premiums you pay out of pocket on a health policy.
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*Note: This calculator provides an estimate of your tax savings based on the 2010 IRS Publication 15 (Circular E) Employer's Tax Guide Rev. December 24, 2009.