Tax Savings Calculator

Dependent Care Flexible Spending Account (FSA) Worksheet

This worksheet can help you decide if you would benefit more from the Federal Child Care tax credit or from a Dependent Care FSA. It can also be used to determine an appropriate Dependent Care FSA election. For detailed tax rate information, consult your tax advisor.

ESTIMATE YOUR MONTHLY DEPENDENT CARE EXPENSES:

Infant/Toddler$ per month
Preschool
(Kindergarten and above is not eligible)
$ per month
Before and after school care$ per month
School vacations/Holidays$ per month
Other dependent care$ per month

Total MONTHLY Expenses
$0.00 per month
Total ANNUAL Expenses
$0.00 (ANNUAL ESTIMATED DEPENDENT CARE EXPENSES)

What is your number of qualifying dependents?
(Children under the age of 13 or individuals unable to care for themselves, who live in your home for more than half of the tax year)
What is your annual household income?$
How many children can you claim on your taxes?
What is your tax filing status?
State in which you live
Estimated Annual Taxable Income
$0.00

DEPENDENT CARE FSA AND FEDERAL CHILD CARE TAX CREDIT COMPARISON
DEPENDENT CARE FSAFEDERAL CHILD CARE TAX CREDIT
* Estimated election
or maximum allowed
$0.00       
* Maximum you may include on taxes
$0.00       
Additional amount you may
take as Child Care Tax Credit
$0.00
Estimated Annual Tax Savings
$0.00
Estimated Annual Tax Savings
$0.00

* If your spouse earns less than this amount, or if your spouse is a full-time student or is disabled, please contact Allegiance for help in determining maximum election allowed.

Contact Us: 1-877-424-3570
Hours: Monday-Friday 7:00 am -6:00 pm MST
Flex-inquire@askallegiance.com