Group 1: Flexible Spending Accounts (FSA) - FSAs allow employees to save pre-tax dollars for qualified healthcare and dependent care expenses, reducing taxable income [2][5] - Unused FSA funds typically must be used within one year, with no rollover option [5] - Employers can set lower contribution limits for their own FSA plans, and married couples can combine contributions to meet household limits [1] Group 2: Health Savings Accounts (HSA) - HSAs can be paired with high-deductible health insurance plans, allowing pre-tax contributions that lower tax liability [4] - HSAs offer tax-free growth and withdrawals for qualified medical expenses, with annual contribution limits set by the IRS [3] - Unused HSA funds can roll over to the next year, providing a long-term savings option [3] Group 3: Retirement Accounts - Traditional 401(k) plans allow pre-tax contributions, lowering taxable income, with annual contribution limits adjusted for inflation [6] - Employers may offer matching contributions to 401(k) plans, incentivizing employee participation [7][8] - Aiming to contribute at least 15% of salary to retirement plans is recommended, considering employer matches [9] Group 4: Employee Stock Purchase Plans (ESPP) - ESPPs allow employees to purchase company stock at a discount, often requiring a minimum employment period [11] - Diversification of holdings is advised to mitigate risks associated with stock ownership [12] Group 5: Tax Credits and Workplace Perks - Tax credits can significantly reduce tax liability and are often more beneficial than deductions [14] - Employers may offer various perks, such as educational benefits, commuter benefits, and health and wellness incentives, which can lower living costs [15]