Open enrollment is upon us.
For most people, it starts within the next couple of weeks.
If you have kids under the age of 13, make sure you sign up for your DEPENDENT CARE FLEXIBLE SPENDING ACCOUNT (FSA).
Every year you can save up to $5,000 pre-tax to pay for your family’s biggest expense – your kids.
You can use it for a lot of things, including nannies, daycare, before and after school programs, etc.
Funnily enough, you CAN’T use it for education expenses.
WARNING: Dependent Care FSA’s are “use it or lose it”. You have to use the money by 12/31 every year.
So don’t miss out on an easy way to save ~$1500 in taxes next year. (That’s the tax math on saving $5,000 pre-tax).
Sign up for your Dependent Care FSA during open enrollment!
