Taxpayers that participate in employer-sponsored health Flexible Spending Accounts (FSAs) can contribute more in 2023. The annual contribution amount will rise to $3,050 (up from $2,850 in 2022). FSAs allow owners to pay for qualified medical costs with pre-tax dollars. That’s good news if you’re scrambling to keep up with rising costs. FSA owners use a debit card or pay out of pocket for expenses and then seek reimbursement. FSA funds must be used by year end unless an employer elects to allow a 2.5-month carryover (or grace period). For 2023, the amount that can be carried over to the following year will rise to $610 (up from $570 for 2022). Any questions? Contact Cg. © 2022
Cg is a Premier Accounting Firm in NJ
Cg is a top accounting firm in NJ, with locations in Tinton Falls and Toms River. Our certified public accountants provide accounting and tax services across the NJ, NY and CT area. The philosophy here at Cg is simple: Gather the best and brightest accomplished financial consultants from several industries. Develop a deep understanding of the client’s needs, operations, business strengths and weaknesses. Provide accurate assessments and evidence-based strategies to offer the most advantageous options for them.
Accounting firms are not all created equal. You need an accredited team with specialized industry expertise and the financial acuity to ensure your success. That’s exactly what Cg provides to every one of our clients. We are backed by four decades of experience and take a practical, results-oriented approach with a focus on increasing profitability.
We provide business accounting services in NJ, NY and CT. Cg specializes in valuations, business audits, forensic accounting, financial consulting and more across a wide range of industries.
Give us a call at 732-676-4100.