3 kids, baby sitter cost 5,800 a year, making 150k, better for me to use flex spending account for babysitter since is pretax, or child credit?

odj250 — Tue, 04 Jun 2019 21:31:51 GMT

I have 3 kids, I pay baby sitter (5,800 a year). we make around 150k a year. Someone told me that it will be better for me to use the flex spending account to pay for babysitter since is pretax, than paying directly with checks and then claiming the expense in my taxes. what will be better for me? When I did my taxes this year turbotax said that we didn't qualified for the child credit because of our income braket.

Yes, if the credit is not available, the Flex spending is...

KrisD — Tue, 04 Jun 2019 21:31:52 GMT

Yes, if the credit is not available, the Flex spending is the better way to go. The funds are pre-tax for the FSA, so it has the same affect as the credit, reducing taxable income.

topic 3 kids, baby sitter cost 5,800 a year, making 150k, better for me to use flex spending account for babysitter since is pretax, or child credit? in Deductions & credits

3 kids, baby sitter cost 5,800 a year, making 150k, better for me to use flex spending account for babysitter since is pretax, or child credit?

Yes, if the credit is not available, the Flex spending is...