TessMore Finance Blog

Flexible spending accounts (FSA) allow you to pay medical bills with tax-advantaged dollars. If your medical insurance plan offers an FSA, you may consider contributing to it each year. Here is a closer look at the flexible spending account, how it works, along with some FSA advantages and disadvantages. Table of Contents What Is a Flexible Spending Account (FSA)? Health Care FSA Limited Expense Health Care FSA Dependent Care FSA Who Qualifies for an FSA? Maximum FSA Limit How Do FSAs Work? Enroll In an FSA Choose Your Contribution Amount Pay for Qualifying Expenses Carryover Balance FSA-Eligible Expenses Medical Expenses Dental Expenses Vision Expenses FSA Spending Deadline Flexible Spending Account Pros and Cons Pros Cons FAQs FSA Alternatives Health Savings Account (HSA) Health Reimbursement Account (HRA) Medical Saving Account (MSA) Flexible Spending Account: Final Thoughts What Is a Flexible Spending Account (FSA)? A flexible spending

Advertising disclosure: Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners. Starting a business is an opportunity to be your own boss, make money and grow your skill set. There are also the not-so-great, somewhat messy and complicated parts about operating a business. If you start off solo or small, you’ll be tackling a lot of tasks yourself. But don’t worry. In this article, we’re going to address something relatively simple in the business world: the best business checking accounts. We’ll go into why you need one, what you should look for and several of the best ones available, both in-person and online-only. What to Look for in a Business Checking Account Before you peruse accounts, get a handle on your business needs and wants. For instance, do you make a lot of transactions? Do you want a business credit card ASAP? Do you prefer a big bank where you c