Dependent Care FSA Explained | How to Save Taxes on Childcare

FIRE Psy Chat 18 views

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@davidmartins9284
How can I contribute more throughout the year to avoid December? On my company's enrollment page in ADP, it only shows biweekly contributions
Comment from : @davidmartins9284


@ashleyhaith6890
How does this work if me and my husband split the daycare costs in half each week?
Comment from : @ashleyhaith6890


@tyspace01
What if I am divorced with 50-50 custody?
Comment from : @tyspace01


@cluberic
0:58 What an absolute joke, this is proof the Fed govt doesn't care $5,000 is NOTHING, That's about 2 months of child care depending on the age Same with the child tax credit Its so low the money wont make a difference in your QOL
Comment from : @cluberic


@stephaniemarcos9326
So I don’t get it how does this help
Comment from : @stephaniemarcos9326


@Tkh21209
when they talk about the allotment on the FSA DC is that monthly or biweekly?
Comment from : @Tkh21209


@thedylanshow1
Wow nice video thanks!
Comment from : @thedylanshow1


@kingofslotsmillion3263
What are the benefits rather than just paying and claiming the childcare in your taxs at the end of the year
Comment from : @kingofslotsmillion3263


@salvab13
can u use it to pay for over seas child care?
Comment from : @salvab13


@jiashuwu8513
my child doesn't have ssn can i enroll in DC FSA to pay for her preschool?
Comment from : @jiashuwu8513


@RyanStokes4GOVFL
Are the FSA debit funds avalible as soon as FSA is deducted from my paycheck? Will I be able to use the FSA debit card to pay for child care the nest month? OR is FSA deducted from my paycheck and I still have to pay for child care out of pocket only getting a re-embursment at the end of the year (only after a request)?
Comment from : @RyanStokes4GOVFL


@michaelfairchild8735
What if you're divorced and have joint custody? Can one of the parents use the FSA?
Comment from : @michaelfairchild8735


@_Rockill_
Can a person skip the FSA and just take the deduction on 1040 Form 2441? I feel like a deduction might be easier on the taxes than dealing with payroll deductions, credit card, receipts, etc
Comment from : @_Rockill_


@natmason09
Will it benefit me if I work and my spouse is a full time student?
Comment from : @natmason09


@notsooonormal
can I use it to pay my parents (their grandparents) for helping to watch the kids? How does it affect THEIR taxes if they are retired and on SSN and 401k payout?
Comment from : @notsooonormal


@GINGERJOI
Can I use an FSA if I get childcare assistance, but I do pay a Copay?
Comment from : @GINGERJOI


@giuseppecipriani9795
Does this cover preschool? If I only have for example $100 in the dcfsa, and I pay pay $600 per month, can I use $100 in the the dcfsa towards that $600 bill?
Comment from : @giuseppecipriani9795


@millieestrada7898
Thank you for the video, but I have a question, can I get the dependent care FSA,although I don’t claim my son
Comment from : @millieestrada7898


@joeydunkle
Great video! Needed a refresher on DCA One question though, you said that on Jan 1 the balance goes to zero I thought that you had a grace period, March 31 I thought, to claim the expenses, as long as they were incurred prior to December 31
Comment from : @joeydunkle


@courtneyscott8045
Yes! We max it out! Hope they raise the limit in the future
Comment from : @courtneyscott8045

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