Prometheus (Greek: Î ÏÎ¿Î¼Î·Î¸ÎµÏÏ) is a Titan, culture hero, and trickster figure who in Greek mythology is credited with the creation of man from clay and the theft of fire for human use, an act that enabled progress and civilization. He is known for his intelligence, and as a champion of mankind.[1]
No. If you use your health care flexible spending account to pay for eligible expenses, you cannot deduct those same expenses from your federal income tax return. Keep in mind that by IRS law, you are only allowed to deduct medical expenses that exceed 10% of your gross income. The advantage of the health care flexible spending account is that you can get a tax benefit on health expenses below that threshold.
Flexible spending accounts are pretax accounts that can be used for qualified medical purchases. Many employers offer these as a benefit to their employees to assist in the financial management of their family health care throughout the year.ower Income Taxes Using FSA. Knowing tax brackets and where you fall within those also can be helpful. In many cases, people who fall on the borderline for income brackets can save money by utilizing the FSA to get them into a lower tax bracket, thus potentially saving a significant amount of money.