How Do You Use A Dependent Care Spending Account?
Dependent Day Care Flexible Spending Accounts are a fantastic way to recoup some of the tremendous expenses of child care. This account is set up using pre-taxed dollars that you can reclaim anytime throughout the calendar year. There are a few things to be aware of and using the steps below, you can use this account to the maximum benefit. Review the amount of money you are currently spending on day care. Remember to calculate the increase in summertime day care fees for school-aged children. Consider any upcoming changes, such as babies turning two or children beginning school, as those milestones do lower the cost of child care. Review your commitment to your current company. If you plan on making a career change, you will not receive the full benefit of a dependent day care spending account. Decide upon the annual amount you want to contribute. The maximum annual amount is $5000.00. The amount you select will be divided by the number of remaining pay checks in the current calendar
