Dependent Care FSA

A Dependent Care Flexible Spending Account (FSA) is a benefit that allows you to set aside pre-tax dollars to pay for qualified child or dependent care expenses, such as daycare or elder care. This reduces your taxable income, saving you money on taxes. You contribute a specific amount from your paycheck before taxes are deducted, which you can then use to pay for eligible care costs throughout the year. It's a helpful way to manage dependent care expenses while lowering your overall tax bill.