Glossary entry

English term or phrase:

pre-tax dollars

English answer:

dollars out of gross income, before paying tax

Added to glossary by Ashutosh Mitra
Oct 13, 2013 12:17
10 yrs ago
21 viewers *
English term

pre-tax dollars

English Bus/Financial Insurance
If you set aside pre-tax dollars in the Healthcare FSA, you will receive a Your Spending Account™ (YSA) debit card that makes it easy to be reimbursed for eligible health care expenses.

(Promotional text for an Insurance company of USA)

Responses

+7
29 mins
Selected

dollars out of gross income, before paying tax

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Peer comment(s):

agree Trudy Peters
13 mins
Thanks, Trudy!
agree Hal D'Arpini : I'd add that it should be "taxes," as income tax is referred to in the plural, and that when you're employed (as is usually the case with healthcare spending acconts), taxes are withheld from your pay; you don't pay them yourself each time you're paid.
45 mins
Thanks for the contribution, Hal.
agree Edith Kelly
1 hr
Thanks, Edith!
agree Anna Herbst : Income before taxes
1 hr
Thanks, Anna!
agree Veronica Prpic Uhing : With Anna
4 hrs
Thanks, Veronica!
agree Phong Le
12 hrs
Hi, Phong Le! Thank you.
agree maelstrom143 (X)
1 day 1 hr
Thanks, maelstrom!
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4 KudoZ points awarded for this answer. Comment: "Thanks Martin!"
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