Dependent Care Worksheet

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 FSA		FEDERAL 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.