Video / Updated 08-14-2023
Your salary is only a part of your compensation. Many employers offer other ways for you to earn money or to save it. You also can avoid paying taxes on these savings, increasing the money you set aside. This is because when you save money to a pre-tax account, you aren’t paying taxes on that amount of money; instead, you’re using that money you would have paid in taxes for medical, commuter, or childcare expenses.