Hi. Does anyone know if there is anyway to take out money from the paycheck for day care expenses..have heard sth but not clear and not sure how it would work..thanks!

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You should be able to enroll in a Dependent Care FSA. You can only enroll in this plan during open enrollment or a Life Event (marriage, birth, divorce, etc)

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You'll also save 7.65% on social security and Medicare tax.

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I'd reach out to your benefits department. They'll have the answers for you.

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You can - just submit a request for mid-year exception. They would normally approve it

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Thnx Huron 1. Do you know where can i get info on how to open that account?

OP: contact benefits express. It’s easy to enroll

Thanks I will do

You should - it should save you quite a bit of money - depending on your tax bracket...

Called benefit express and can not be enrolled this year unless I have a qualifying event (marriage, birth etc)..so will wait for next year...but it will not save a lot of money cause the max you can contribute is 160 per month...I pay 15k each month...uhhh

You pay 15k per year or month? Also, the limit is 4.5k per year.

Sorry I meant 15k per year...not sure why benefit express told me max of 160 per month..it would be ~1920 per year..

The other thing is that I can not enroll until next year...ughh

Pwc 1 they told me I can submit a form but it will not be accepted most likely...it will take 14 business days to come back with a response

However already uploaded the form

Hope it will get accepted...

My understand is that IRS regulation is $5,000 per year. If your marginal tax rate is 25% that’s $1,250. That’s money you could save or spend elsewhere.

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