Does anyone here use their FSA for dependent care ? How do you maximize benefits and minimize waste ?

like
Posting as :
works at
You are currently posting as works at

I assume you’re referring to the dependent care FSA which is separate from a normal FSA. It’s pretty simple, you can have $5k deducted from your paycheck before taxes which can be used for child care. You can either pay your provider directly from the account or reimburse yourself. You lose the money if you don’t use it in the calendar year, but that shouldn’t be a problem if your expenses are greater than $5k.

Agree with G1. Since the limit is 5k, if your kid is in any kind of daycare setting you should pretty easily hit it. My wife and I max ours and it’s never an issue. We just cash it out once or twice a year.

You can cash it out ? I thought limit was $10K since COVID

Also, do you contribute monthly or just put a big chunk in at the beginning of the year ?

Yeah, but I guess my confusion is; if pay in $500 on December 15th because your employers only allows monthly payments.. is that money lost ?

Related Posts

Currently C level (target promo next summer). Been mostly on finance transformation projects. Worked in strategic finance before that at a f500 healthcare company.
What roles/levels would I be a good candidate for at FAANG/Microsoft/other Big Tech?
No hard technical skills (outside of financial modeling).
I’m also studying for GMAT as t15 MBA is a consideration right now, so I could also try to make the switch after that.

like

MBA admit here and have to put down a deposit soon, having serious cold feet right now due to the covid situation and potentially having to start virtually. Would love any perspective on how it's been particularly socially and what your schools' outlook on the fall is

like

So....animal crossings, anyone?

like

Anyone good with sap tax determination? Stuck with something urgent

smart

Can you set automatic investments in TD Ameritrade? Looking to DCA at the start of every month into index funds without having to manually buy. Thanks!

like

Okay, who here was smart enough to put in $80 limit buys?

like
like

Would you invest in individual stocks if you're invested in a fund that includes those stocks as well? Why or why not?

like

Help - how do I fight claims by scammer healthcare providers?

I recently went to 2 different providers.

Dentist, made appt via Zocdoc to see a dentist that was in network. Another dentist at the location saw me instead who was out of network. I have text evidence they said it would be covered before visit. Claim was denied - asking for ~500 dollars.

Saw a specialist who’s office staff verified my insurance would fully cover the claim. Get the claim, says they are out of network. Owe 600.

like

NJ market - Cousin of mine who has >500 rental properties advised that over next 3 yrs it’s possible for me to get 3 multi-fams if I buy 1 every year for next 3 years, by doing FHA on the first so 3.5% down and then doing less than 10% down on the next 2 if I do it right. Everywhere I read not seeing how that’s possible. can anyone explain pls? Is there a hack that after getting the 1st owner-occupied prop, I don’t have to put more than 10% down on 2nd home, and on 3rd??

like

Does anyone else feel like their social skills went down during the pandemic? My new anxiety makes retail so hard.

like

Assuming your business case is solid enough, is it true that once you get to the presentation point, you’re basically good for GSAP? I’ve been hearing that GSAP is more competitive now

like

I just got a really great offer, only downside is the eligibility for maternity leave is after 12 months of employment. We got a faint positive today but have had so many chemical pregnancies over the past year that I am not confident it will stick this time BUT I am on aspirin and progesterone for this try … so it could.. I want to see if I could negotiate being eligible earlier but I also don’t want them to think I’m pregnant when I’m not actually… How would you approach the conversation?

like

Best stocks to buy/DCA into during the continued recession/incoming pain?

like

Talk to me about side effects from progesterone. I’ve been on suppositories for 2 weeks in my TWW and im having the WILDEST side effects but also similar to pregnancy. I have the CRAZIEST dreams about peeing myself, helping Whitney Carson give birth in a bus. You name it I’m dreaming it. I also feel like I smell horribly. Like a new scent

likefunny

Safest wallets / exchanges for buying VET and safe moon? 😭

like

Is there anyone from Canada here? I’m looking for some information on working out of the country, but selling insurance.
Thanks

like

What is the best performing NPS available on market. Let's assume that I invest 50k per year for tax saving, what could be my retirement benefits out of this(30 yrs of investing). Please help me with calculation and suggestions.

like

Maternity leave at BCG and McKinsey- do you need to be at the firm a certain amount of time to qualify? What are the benefits like? Is health insurance at BCG really free?
Thanks in advnace!

like

More Posts

like

I am in search of a contact of an employee of Deutsche Bank Pune can someone help on that note

Do you work the holidays into your lesson plans this time of year? Or is it too much of a distraction from your routine? Teaching a SPED music class this year and the students have finally *mostly* become comfortable in the room and with the instruments + noise. We usually work on the same songs each week for one month, but I'm thinking of switching it up and doing Christmas/Holiday songs next week as a send off into break. I work with mostly autistic students.

like

If your manager gives a false commitment of onsite then what can be done against the manager ?

like

When our Q2 internal sign off was at 10 am yet our client still hasn't given us the work papers we need to complete anything 🙄

like

Should I take vacation days for 2-3 weeks in my promotion year (3-4 months before promotion)? What would be the impact to my promotion? Is it just utilization or it could slow down my promotion?

like

So my FAR passing grade expires in November and I am taking my last section BEC in October but won’t get the grade till December after my FAR grade expires. I won’t have to retake FAR will I?

like

DM me for a BDO referral!

likefunny

I'm honestly impressed how many hours I've worked in October without the assistance of any performance-enhancing drugs. 🤣 #busyseasonsilverlivings

likefunny
likehelpful
like

I don’t understand why NFTs appreciate in value .. can someone explain?

like

Hello All,

I am expecting a HR call for salary negotiation, for BA4 position in Barclays. how much they can offer?
Eoe: 5 years 10 months
Cctc: 16 LPA fixed
Tech: Oracle EPM

Thanks

like

Hello guys,

Anyone here working on SAP Ariba/ SAP Concur?

Need information and help for the same. :)

like

Exempt Salaried employees, do you get paid overtime? How many hours do you typically work?

like

 I heard a commercial on the radio for Verizon that said something to the effect that parents are now learning how to lesson plan. Are any of you off the hook for lesson planning? Just wondering because I’m over here busting my butt!

funnylikehelpful

Can someone point to the documents having list of mobile approved by PwC (for work profile ).

Which organisation to choose IBM or NTT DATA or Luxoft .? I'm a retail banking business analyst with 5.5 YOE. IBM and NTT DATA provides same fixed component plus NTT in addition provides an variable of 6% from the fixed. From the perspective Of WLB and growth

I have 9 years of overall experience and past 2 years with Oracle, I am in SAAS based apps, Recently I got 5 rating in the appraisal and Manager asked what is the number you are expecting ?
Any idea what to quote either percentage / LPA ?

like

Hii guys, need 11 likes to dm. 😊 Thanks

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal