Intuit
Brooklyn FI started working with several Intuit employees in recent years through their acquisitions of Mailchimp and Credit Karma.
Intuit is near and dear to our hearts as accountants. As a firm, we use several Intuit products to prepare tax returns.
Are you looking for someone who gets your unique financial situation? Well, you've come to the right place! The team of CFPs at BKFI are standing by.
We Speak Intuit
Working with Intuit employees is our jam. We know the ins and outs of your benefits, pay structure, and that equity plan you've got going on. That means we can tailor our advice to fit your life at Intuit perfectly.
Equity, Equity, Equity
Intuit's equity plan is a sweet deal, and I'm here to help you make the most of it. Whether you're wondering when to cash in those options or how to diversify your RSUs, I've got your back. There’s also an ESPP plan that allows employees to buy Intuit stock at a 15% discount.
We’re impressed, Intuit
At BKFI, we’ve seen hundreds of company health plans and job offers so we know a good thing when we see it. In our opinion, Intuit has extremely generous employee benefits. Whether it’s cash to help with an adoption, gender-affirming healthcare, tuition reimbursement, a Dependent care FSA with a match, or getting to take your birthday off, there’s something valuable (or just nice) for everyone. Did we mention the equity? Those Intuit grants are very, very nice.
It’s been a joy for our team, and we wanted to share some tips we’ve picked up along the way about their benefits plan.
Here’s a bit about your unique benefits, but we’d be happy to take a deeper dive into your specific situation if you’re looking for a financial planner.
Please note that benefits are subject to change at any time.
HEALTH, DENTAL, and VISION
Intuit offers health, dental, and vision coverage to employees and their families. For a full glossary of terms that you may find in your plan documents, check out our page on health insurance coverage here.
Which healthcare plan you choose depends on a variety of factors:
How often you anticipate using your insurance
Cash flow needs
Tax considerations
One of the cool things about Intuit’s plan is the access to advocates. These professionals can help you navigate the difficult world of medical insurance. They can do things like help you find a doctor or understand the cost of a procedure.
Intuit’s health plan is also transgender-friendly. Some of Intuit’s plans cover various gender-transition services and procedures.
BKFI Tip: If available, consider electing the HSA plan, maxing it out every year, and paying for your expenses out of other savings to maximize the tax-free growth of the HSA!
DEPENDENT CARE BENEFITS
Intuit provides a Dependent Care FSA as well. This allows pre-tax funds to be set aside for childcare expenses - up to $5,000/year. If you have kids in daycare, or after-school care, this can save you some money in taxes. Intuit also matches a small portion of your contributions.
BKFI Tip: Both Dependent Care and Healthcare FSAs are ‘use it or lose it’ meaning the contributions must be spent before March 15th of the year following your contributions. For example, 2023 contributions must be spent by March 15th, 2024 or they’ll be forfeited to your employer.
RETIREMENT PLANNING
Intuit’s retirement plan is administered by Fidelity and does offer a variety of contribution options. The plan allows for both pre-tax and Roth contributions, up to a maximum of $23,000 (for tax year 2024). Intuit has a generous match of up to 6% of eligible pay (maximum $10,000 match per year).
BKFI Tip: Have you maxed out your 401(k) for this year? If not, there’s still time to go in and update your contributions.
Bonus BKFI Tip: Review your 401(k) beneficiaries annually and make sure they match your wishes.
There’s so much more! Making sure you’re maximizing your employee benefits is just one small part of a comprehensive financial plan. Book a call to learn more.