Dr. Friday 0:00
Good day. I’m Dr. Friday, President of Dr. Friday’s Tax and Financial firm. To get more info go to www.drfriday.com. This is a one-minute moment.
Dr. Friday 0:12
For tax years beginning in 2022, the dollar limitations for employee salary reduction for contributions to health flex spending arrangements increased to 2,850. Cafeteria plans allowed you to carry over unused amounts a maximum carryover $570. That’s an increase from $20 from 2021. If you have these types of accounts, you do really want to try to spend them down every single year because you can’t roll over every dollar unlike a health savings account which I am much more of an advocate for. Check us out on the web at Dr. friday.com.
You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm on 99.7 WTN.