UrbanBaby - Does anyone use their employer's (or DH'...

new post » see more posts »

Does anyone use their employer's (or DH's employer) childcare flex spending account? How does it work?
18 replies
- Toddler
[ Reply | Watch | Options ]
04.16.08, 01:08 PM [ Flag ]
- there's a max of $3500 I believe for daycare or nanny (paid on books though)
  [ Reply | Options ]
  04.16.08, 01:09 PM [ Flag | link to this post ]
  - not true, my company has 5k max
    [ Reply | Options ]
    04.16.08, 01:09 PM [ Flag | link to this post ]
    - it's not a company policy, it's a tax policy...$5K is the max
      [ Reply | Options ]
      04.16.08, 01:10 PM [ Flag | link to this post ]
      - umm, actually companies can make the maximum less
        [ Reply | Options ]
        04.16.08, 01:11 PM [ Flag | link to this post ]
        
        not legally
        [ Reply | Options ]
        04.16.08, 01:11 PM [ Flag | link to this post ]
        
        np: the max is 5K. depending on salary, your max might be less
        [ Reply | Options ]
        04.16.08, 01:12 PM [ Flag | link to this post ]
        
        less legally, they just have to enforce it uniformly among all participants. I know of a company that only allows $2k
        [ Reply | Options ]
        04.16.08, 01:14 PM [ Flag | link to this post ]
  - $5000
    [ Reply | Options ]
    04.16.08, 01:09 PM [ Flag | link to this post ]
  - actually $5k
    [ Reply | Options ]
    04.16.08, 01:10 PM [ Flag | link to this post ]
- I do -- you put pre-tax $ away each pay period, submit a form with receipt for your childcare and get reimbursed.
  [ Reply | Options ]
  04.16.08, 01:09 PM [ Flag | link to this post ]
  - OP: but you can only use it if you pay nanny on books, right?
    [ Reply | Options ]
    04.16.08, 01:09 PM [ Flag | link to this post ]
    - yes
      [ Reply | Options ]
      04.16.08, 01:10 PM [ Flag | link to this post ]
  - NP: if someone is a SAHM or SAHD, you are not eligable
    [ Reply | Options ]
    04.16.08, 01:11 PM [ Flag | link to this post ]
- You pay your provider, then submit the form to the flex-account people, then they send a check (or direct deposit).
  [ Reply | Options ]
  04.16.08, 01:09 PM [ Flag | link to this post ]
- yes. you put away pre-tax dollars into a dependent flex spending account. you provide proof of childcare (either with provider's SSN or tax ID no) and can withdrawl your money. You can put up to 5K away each year, but if you or dh makes more than x amoun , you are limited. (for instance, we use DH's dependent care. he makes 110K plus bonus and we can only put in 3700 a year). you can't use BOTH of your dependent care spending, just one
  [ Reply | Options ]
  04.16.08, 01:10 PM [ Flag | link to this post ]
- yes, we use it. money is taken from your paycheck, pre-tax and put into an account. You submit proof of daycare costs to get money sent to you from the account.
  [ Reply | Options ]
  04.16.08, 01:10 PM [ Flag | link to this post ]
- they deduct the money from each paycheck, according to how much we elect (we did the max which was 5K, I think). I usually submit for reimbursement at the end of each month (made up 12 forms and had daycare sign them all at once).
  [ Reply | Options ]
  04.16.08, 01:10 PM [ Flag | link to this post ]
- np: can you use it for dc classes like music, etc if the provider has a TIN?
  [ Reply | Options ]
  04.16.08, 01:13 PM [ Flag | link to this post ]

UrbanBaby Asks...

When I ride in a taxi cab with my DC I:

Already voted? View Results

See previous polls »

Boards Help

Abbreviations
More Boards Help

Site Feedback Thank you for your feedback about the new site. We are paying close attention to your comments and we will incorporate them as we make improvements to the site. Please continue to report problems and offer feedback on the Site Feedback Board and visit our Site Talk blog for answers to some of your questions and updates on specific issues.

Flashback

City vs. Suburbs

Moving to the suburbs and suddenly feel sick to my stomach. anyone else btdt and ended up liking it??

Posted June 5, 2008 (50 replies)

Does anyone use their employer's (or DH's employer) childcare flex spending account? How does it work?

there's a max of $3500 I believe for daycare or nanny (paid on books though)

not true, my company has 5k max

it's not a company policy, it's a tax policy...$5K is the max

umm, actually companies can make the maximum less

not legally

np: the max is 5K. depending on salary, your max might be less

less legally, they just have to enforce it uniformly among all participants. I know of a company that only allows $2k

$5000

actually $5k

I do -- you put pre-tax $ away each pay period, submit a form with receipt for your childcare and get reimbursed.

OP: but you can only use it if you pay nanny on books, right?

yes

NP: if someone is a SAHM or SAHD, you are not eligable

You pay your provider, then submit the form to the flex-account people, then they send a check (or direct deposit).

yes, we use it. money is taken from your paycheck, pre-tax and put into an account. You submit proof of daycare costs to get money sent to you from the account.

they deduct the money from each paycheck, according to how much we elect (we did the max which was 5K, I think). I usually submit for reimbursement at the end of each month (made up 12 forms and had daycare sign them all at once).

np: can you use it for dc classes like music, etc if the provider has a TIN?

UrbanBaby Asks...

When I ride in a taxi cab with my DC I:

Boards Help

City vs. Suburbs