- Regular corporations, partnerships, S corporations, limited liability companies
(LLC's), sole proprietors, professional corporations and not-for-profits can
all save money on taxes by establishing an FSA Plan.
- While regulations prohibit a sole proprietor, partner, members of an LLC
(in most cases) or individuals owning more than 2% of an S corporation from
participating in the FSA Plan, they may still sponsor a plan and benefit from
the savings on payroll taxes. “Employee” shareholders of regular corporations
may also participate.
