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Hi. Are there any changes to dependent care Flexible spending accounts in the new tax law? Will we still be able to use the $5000 pre tax?
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Hi. Are there any changes to dependent care Flexible spending accounts in the new tax law? Will we still be able to use the $5000 pre tax?
Yes, for your 2018 taxes, you will be able to contribute $5,000 pre-tax dollars to your FSA.
"FSA contribution limits for 2018
One major change that will hit next year is that the annual contribution limit for healthcare FSAs is going up by $50 for a total of $2,650. The limits for dependent care FSAs, meanwhile, are holding steady at $5,000 for single tax filers and married couples filing jointly and $2,500 for married couples filing separately."
[From: https://www.fool.com/retirement/2017/12/10/2018-fsa-changes-the-latest-on-flexible-spending-a.aspx"
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Hi. Are there any changes to dependent care Flexible spending accounts in the new tax law? Will we still be able to use the $5000 pre tax?
Yes, for your 2018 taxes, you will be able to contribute $5,000 pre-tax dollars to your FSA.
"FSA contribution limits for 2018
One major change that will hit next year is that the annual contribution limit for healthcare FSAs is going up by $50 for a total of $2,650. The limits for dependent care FSAs, meanwhile, are holding steady at $5,000 for single tax filers and married couples filing jointly and $2,500 for married couples filing separately."
[From: https://www.fool.com/retirement/2017/12/10/2018-fsa-changes-the-latest-on-flexible-spending-a.aspx"
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