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It’s a no brainer if you spend more than the allowance on daycare or aftercare.
Thanks!
You can usually use it for babysitters, if the babysitter is to take care of the kid(s) so you can work. You can’t use it for a date night babysitter. You’ll have to issue an “invoice” to the babysitter and have them sign it; you may need a tax id or ssn for the sitter to claim as well.
Other approved uses are for any childcare so you can work; think daycare, summer day camps (not overnight ones), after school care, holiday/school break care, backup care for when school/daycare is closed or the kiddo is sick. The administrator of the account should have a list of what’s approved for reimbursement. Just understand how to submit for reimbursement and make sure you get receipts as you go to make filing the claims easier.
The child care provider has to set up in such a way that they’re paying or filing taxes as a child care provider the way I understand it. If you take your kids to a regular daycare, the kind that has a license to provide childcare, participates in whatever childcare nutrition programs, accepts childcare assistance programs, etc. is going to be able to accept your dependent care FSA. Someone who babysits on Friday nights or runs an unlicensed in home daycare probably won’t. So really it just depends on what type of child care you use. My daughter went to a fully licensed daycare run by the YMCA and I had no issues at all with using it.
I use it for day care, Nannies, and preschool
Yes, depending on age of kids. I use it for daycare and for summer camp.
I use all of it up easily every year even if I increase it annually. Summer camp really helps eat away at the balance!