|
In response to
"Thoughts: should I enroll for a Dependant Care FSA for next year? It seems like it could save me like $1,000 in taxes during the year..."
by
TFox
|
if it works like ours did, it's a total pain
Posted by
prayformojo (aka mayhem)
Nov 19 '09, 07:17
|
with our DCSA, you could only apply for reimbursement for the amount that you'd actually banked.
you write a check for $1000 in january, but you've only banked, say $300. you'd have to wait until you'd banked the other $700 before you can apply for the reimbursement.
eventually everything evens out, but for the first several months of the year, you're applying for reimbursements for expenses you made several months ago. it's hard to keep track of, especailly since you'd need to hold on to the monthly receipts from the day care center for several months until you could apply for reimbursements.
don't know if that's the way that all DC spending accounts work, but ours was such a pain that we didn't re-enroll for the second year.
|
Responses:
|