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Deductions & credits
I realize this is an old post but exactly matches my question so I’m hoping someone can help!
We also put $5000 in a FSA pre tax for dependent care, but we pay about $19000 in child care each year.
So 20% of $19000 is $3800 which would mean we qualify for a $3000 credit right?
So am I correct that we would save more if we didn’t take the $5000 out pretax? (Assuming the 25% tax bracket used in the calculation.)
January 28, 2021
6:37 PM