Startup Helps You and Your Employees Deduct Pre-Tax Spending

An application called Alice will help business and their employees take advantage of pre-tax spending to the tune of hundreds or thousands of dollars every year. Alice gets connected to the payroll of participating employers and once it is up and running, it monitors the pre-tax eligible items employees spend. The items can be everything from childcare related expenses to prescriptions, ride-sharing, parking, monthly train passes and more. The savings also extend to the business. According to the company, Alice can save employers around 8% of every dollar spent pre-tax by their employees. It does this by lowering Social Security, Medicare, local taxes, and unemployment premiums a business would have to pay.