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FDX Income Tax/VEBA ?

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Old 03-28-2012, 03:00 PM
  #1  
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Default FDX Income Tax/VEBA ?

Folks:

Just spoke with my Accountant and I need more deductions!

Just looked at my last pay stub and it looks like VEBA comes out after tax. By my interpretation this is no benefit for me, but more like a required business expense.

Is this deductible like Union Dues?

Is this annotated anywhere on my W2? There's some mystery $ on my W2-block 14 my Accountant was asking about.

Also, while we're at it, define VEBA.

Thanks!
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Old 03-28-2012, 04:31 PM
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Do you take your per diem deductions?
The item 14 figures are explained on the back of the w2.
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Old 03-28-2012, 07:13 PM
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Originally Posted by B1driver View Post
Folks:

Just spoke with my Accountant and I need more deductions!

Just looked at my last pay stub and it looks like VEBA comes out after tax. By my interpretation this is no benefit for me, but more like a required business expense.

Is this deductible like Union Dues?

Is this annotated anywhere on my W2? There's some mystery $ on my W2-block 14 my Accountant was asking about.

Also, while we're at it, define VEBA.

Thanks!
You need a new accountant.

But, if you're already letting him do last year's tax returns...Let him know that:

HCSA = Health Care Savings Account
GRP INS = What you paid into the FDX health care plan
VEBA = Voluntary Employees Beneficiary Association

They are all pre-tax. Just like the 401K and 401KCu, if you're eligible. He does know what a 401K is, right?

Last edited by Busboy; 03-28-2012 at 07:58 PM. Reason: According to FDX, employees are "Savers" not "Spenders"
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