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Should I open Dependent Care FSA if my kid attends private pre-school?

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  • Should I open Dependent Care FSA if my kid attends private pre-school?


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Answer #1 | 19/12 2013 17:05
If your employer offers it then sure, your eligible. It's all based on how much you can afford from your pay each month in the pre-tax setting. It's Dependent Care, therefore you're eligible. Goal is to try to make the $450 a month by splitting it up in 26 annual payments; multiplied by the number of months your child is in the school. Say your child goes to school 7 months a year X $450 and then divide this by as many payments from your pay (you may not need the whole 26 bi-weekly pay periods to make this; only you and your wife know the answer.) Best of luck!

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