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STRATEGIC ISSUES...ONLINE    
For week of July 18, 2005, Issue #221
 
Featured Articles:
1.  You Now Have Longer to Use Your FSA
2.  Fraud Footnotes:  3 (WWW) Websites Worth Watching
3.  Tech Tip Weekly: Adding a Legend to a Chart
4.  Compliance Calendar
 
 
1.  You Now Have Longer to Use Your FSA
 
Do you participate in a Flexible Spending Arrangement (FSA) at work?  If so, do you also know all about "use it or lose it?"  That's the year-end scramble to spend the pretax dollars left in your account.  But now there may be partial relief.  Recent regulations may give you 2 1/2 months longer to spend your money.
 
FSAs are a popular part of many employee benefit plans.  They allow you to set aside pretax dollars from your paycheck to use for unreimbursed medical expenses or dependent care expenses.  A health care FSA even allows you to pay for some nonprescription drugs and other medical supplies that are not normally covered by health insurance.
 
The biggest drawback has been that you forfeit any dollars left unspent in the account at the end of each year.  So if you don't plan right, you could find yourself in a year-end rush to use it or lose it.  However, new regulations now allow you until March 15 to spend your dollars from the previous year.  The result should be that you'll have more flexibility and less pressure at what's always a busy time of the year.
 
You can still only spend on items covered by that type of FSA.  And you can't cash out the remaining dollars or transfer them to another kind of benefit.  Also, note that the extension is not automatic.  Your employer must choose to adopt it and must modify the benefit plan to allow it.  So be sure to check before you end the year with dollars left in your account.
 
 
2.  Fraud Footnotes:  3 (WWW) Websites Worth Watching
 
Ponzi Schemes        www.crimes-of-persuasion.com
 
Online Scams          www.ftc.gov/fte/consumer.htm
 
Missing Money        www.missingmoney.com
 
 
3.  Tech Tip Weekly:  Adding a Legend to a Chart
 
If you create your chart by using the Chart Wizard in MS Excel, you can include a legend.  If you don't include a legend as you create the chart, you can add one later if you need one.  To add a legend, follow these steps:
 
1.  Activate the chart.
2.  Choose the Chart, Chart Options menu command.  You can also right-click the border area of the chart and select Chart Options from the shortcut menu.
 
MS Excel displays its Chart Options dialog box.
 
3.  Click the Legend tab.
4.  Select the Show Legend check box.
5.  Select a placement option for the legend by clicking the appropriate radio button: Bottom, Corner, Top, Right, or Left.
 
The picture of the chart in the Legend tab displays how the legend appears on the chart for various placement options.
 
6.  Click OK.
 
 
4.  Compliance Calendar
 
July 20
-Employers deposit Social Security, Medicare and withheld income tax for payments July 13, 14, and 15.
 
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