Guest rthiedke76 Posted December 17, 2003 Posted December 17, 2003 I am a new Benefits Manager and I am just now working on updating my firms Cafateria documents. So, naturally I have a few questions I am hoping someone can help me with. 1. If the firm reimburses mileage up to $.37 (and the IRS amount is .375, can an employee run the difference through the Cafeteria Plan? 2. Do you have to have a formal Plan document in order to operate a Cafeteria Plan? 3. Does anyone have an easy to read chart that will show employees how much they will save in taxes by deferring some of their compensation (medical and child care)? Thanks!
Guest b2kates Posted December 17, 2003 Posted December 17, 2003 1. yes 2. Section 125 of the Internal Revenue Code mandates that the plan be in writing.
GBurns Posted December 18, 2003 Posted December 18, 2003 You can only run through the cafeteria plan's FSA the mileage related to medical care. I also would question whether the rate for medical related mileage is .375 or even .37. Look in Pub 502 for the rate which is a different rate than that used for other mileage. George D. Burns Cost Reduction Strategies Burns and Associates, Inc www.costreductionstrategies.com(under construction) www.employeebenefitsstrategies.com(under construction)
Lisa Hand Posted December 18, 2003 Posted December 18, 2003 2003 medical mileage per mile is 12 cents 2004 has been revised to 14 cents
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