A Flexible Spending Account (FSA), sometimes referred to as a 'Cafeteria Plan' or 'Section 125 Cafeteria Plan', helps you keep more of your paycheck by reducing your Federal and state taxes. It allows you to pay certain expenses before taxes are deducted from your paycheck. These expenses include daycare, insurance premiums and many out-of-pocket medical costs. Use this calculator to see how participating in your employer's FSA can help you pay less tax, and increase your net take home pay. This calculator uses the withholding schedules, rules and rates from IRS Publication 15.