Welcome to ASIFlex's Flexible Spending Tax savings calculator.

Enrolling in a Flexible Spending Account can save you money by reducing your taxable income. Money contributed to an FSA can be used to pay for eligible expenses on a pre-tax basis; therefore, income contributed to an FSA is not taxed. Use the calculator below to estimate your tax savings from enrolling in an FSA.

Estimated Medical Expenses
Medical deductibles & co-pays, prescription drugs, OTC drugs with a prescription only as of January 1, 2011
Vision contact lenses, eyeglasses, LASIK
Dental orthodontics, fillings, dental work, dentures
Other chiropractor, hearing exams/aids, psychologists' fees
Total
Dependent Care
Dependent care day care, day camp, nursery care, after school programs
Total Eligible Contributions
Income
Your gross annual income
Your spouse's gross annual income (if applicable)
Filing status	------------------------------------------- Single Married filing JOINTLY Married filing SEPERATELY Qualifying Widow Head of household
Number of dependents (number you claim for income tax purposes)
State in which you reside	------------------------------------------- Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Missouri West Virginia Wisconsin Wyoming
Other pre-tax deductions (per year) 401(K), insurance premiums, etc.
Pay schedule	------------------------------------------- Weekly Biweekly Twice a Month Monthly Yearly
Taxable income*
Savings with FSA
Annual tax savings with FSA plan
FSA savings per paycheck

* Taxable Income reflects your income less the standard deduction and the amount you are setting aside for Flexible Spending. For more information, please consult a tax professional.

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The numbers presented above are only estimations. Actual savings may vary. Calculations assume no itemized deductions. State tax rates are estimated. Individual tax rates may differ.