Dependent Care FSA Explained | How to Save Taxes on Childcare

Подписаться 41 тыс.

Просмотров 13 тыс.

50% 1

Do you use daycare, before- and after-school care, or in-home care for your child(ren)? Does your employer offer dependent care FSA? Did you know there are ways to save taxes with dependent care FSA? Don't miss out on this video!
Dependent Care FSA Qualified Expenses
➡️ www.fsafeds.co...
📖 Get Your Free Financial Spreadsheets and Resources 📖
➡️ www.firepsycha...
👨‍🏫 1:1 Financial Coaching 👩‍🏫
Schedule a free 20-minute 1:1 Coaching Session
Schedule a free 30-minute 1:2 Couple's Coaching Session
➡️ Introductory Forum: www.firepsycha...
📧 Email: hello@firepsychat.com
📖 What’s on my bookshelf? 📖
➡️ www.firepsycha...
"1,000 Nights: Death's Love Letter to Afghanistan" amzn.to/3DlPPho
"The Millionaire Next Door" amzn.to/3wNFyt6
📷 Additional FIRE Videos Mentioned In this Video 📷
HSA vs FSA - • HSA or FSA? Our $460,0...
The 10-Step FIRE Checklist - • The 10-Step FIRE Check...
Calculate FIRE Number - • How to Calculate Your ...
Customize Your Emergency Fund - • How to Build Your Firs...
Build a $2.8 mil Investment Portfolio - • How to Build a $2.5 mi...
Pay Yourself First Budget - • How to Create a Pay Yo...
Our $2.8 mil Fat FIRE Plan - • Our $2.8 million Fat F...
How to withdraw $2.8 mil Fat FIRE - • How to Withdraw $2.8 m...
How I saved my first $100K - • How I Saved My First $...
⏰ Table of Contents ⏰
0:00 Dependent Care FSA
2:09 Qualified Expenses
4:27 Other Considerations for FSA
#FIREPsyChat #FinancialIndependence #DependentCareFSA
🤳 Social Media🤳
Facebook: / firepsychat
Instagram: / firepsychat
Twitter: / firepsychat
🎵 Music and Sound Effects Provided by Epidemic Sound 🎵
www.epidemicso...
Disclaimer: I am not a financial advisor. I am solely sharing my personal experience and opinions. All Strategies, tips, suggestions, and recommendations shared are solely for entertainment and educational purposes only. There are financial risks associated with investing. You must conduct your own research and due diligence, or seek the advice of a licensed advisor if necessary.
Affiliate Disclosure: Some of the links on this webpage are affiliate links, meaning, at no additional cost to you, we may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact our opinions and comparisons.

Опубликовано:

15 авг 2024

Ссылка:

Скачать:

Готовим ссылку...

Добавить в:

Мой плейлист

Посмотреть позже

Комментарии : 24

@FIREPsyChat 2 года назад

Do you have dependent care FSA? Get your FREE FIRE resources at www.firepsychat.com/contact!

@notsooonormal Год назад

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?

@courtneyscott8045 2 года назад

Yes! We max it out! Hope they raise the limit in the future.

@FIREPsyChat 2 года назад

Nice!

@_Rockill_ Год назад

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..

@stephaniemarcos9326 4 месяца назад

So I don’t get it how does this help

@kingofslotsmillion3263 8 месяцев назад

What are the benefits rather than just paying and claiming the childcare in your taxs at the end of the year

@giuseppecipriani9795 Год назад

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?

@RyanStokes4GOVFL 9 месяцев назад

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)?

@Tkh21209 4 месяца назад

when they talk about the allotment on the FSA DC is that monthly or biweekly?

@salvab13 9 месяцев назад

can u use it to pay for over seas child care?

@michaelfairchild8735 10 месяцев назад

What if you're divorced and have joint custody? Can one of the parents use the FSA?

@jiashuwu8513 9 месяцев назад

my child doesn't have ssn. can i enroll in DC FSA to pay for her preschool?

@thedylanshow1 5 месяцев назад

Wow nice video thanks!

@joeydunkle Год назад

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.

@FIREPsyChat Год назад

You are correct about the grace period but typically you have until March 15 to use it, and file claim by March 31.