https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Tue, 09 Jun 2026 22:39:52 +0000 https://boards.hellobee.com/topic/fsa-and-aging-out-of-daycare#post-2904066 Mon, 02 Dec 2019 09:43:46 +0000 graceandjoy 2904066@https://boards.hellobee.com/ <p>@lilyofthewest: I just had this conversation with 2 friends (we're in the NE). They both have toddlers that they want to eventually enroll in pre-school and were asking me if they should max out, etc. I was like UMM... I can fulfill the cap in less than 6 months right now with 1 in daycare. With 2? I can fulfill that in like 3 months :shocked: :meh: </p> https://boards.hellobee.com/topic/fsa-and-aging-out-of-daycare#post-2904028 Sun, 01 Dec 2019 11:42:55 +0000 gotkimchi 2904028@https://boards.hellobee.com/ <p>@SweetCaroline: 👍thank you! </p> https://boards.hellobee.com/topic/fsa-and-aging-out-of-daycare#post-2904026 Sun, 01 Dec 2019 10:50:29 +0000 SweetCaroline 2904026@https://boards.hellobee.com/ <p>@gotkimchi: you can submit through 3/31 for 2019 expenses. It's called the "run out period". If you have a balance on 2019 after 3/31, you forfeit those funds. </p> https://boards.hellobee.com/topic/fsa-and-aging-out-of-daycare#post-2904024 Sun, 01 Dec 2019 10:25:51 +0000 gotkimchi 2904024@https://boards.hellobee.com/ <p>Everyone: I have a fsa question as this is my first year doing this. If my last paycheck comes on 12/31 and they take out $192 does that mess anything up? Can I submit in January for last year exp? </p> https://boards.hellobee.com/topic/fsa-and-aging-out-of-daycare#post-2904020 Sun, 01 Dec 2019 00:24:05 +0000 PurplePeony 2904020@https://boards.hellobee.com/ <p>Some employers also allow you to accelerate your DCFSA contribution so you can put more in per paycheck and get reimbursed faster (i.e. if you get paid biweekly, it’s like $192.30 per paycheck if you spread it out evenly, but you could have $250 or whatever other amount withheld per paycheck until you reach $5k and then the deduction would stop for the rest of the year). </p> https://boards.hellobee.com/topic/fsa-and-aging-out-of-daycare#post-2904013 Sat, 30 Nov 2019 19:25:26 +0000 SweetCaroline 2904013@https://boards.hellobee.com/ <p>@lilyofthewest: @Ms.Mermaid: Ha! No kidding... </p> https://boards.hellobee.com/topic/fsa-and-aging-out-of-daycare#post-2904012 Sat, 30 Nov 2019 19:12:48 +0000 Ms.Mermaid 2904012@https://boards.hellobee.com/ <p>@lilyofthewest: I had the same question!!! (You and I are from the same ish area.) </p> https://boards.hellobee.com/topic/fsa-and-aging-out-of-daycare#post-2903996 Sat, 30 Nov 2019 15:46:56 +0000 lilyofthewest 2903996@https://boards.hellobee.com/ <p>Where are you that 5k covers most of your daycare costs?!? :crying: :shocked: :crying: </p> <p>Kid #1's preschool (which only covers 11mos/year) is $19,660 per year, and kid #2's is $15,600. Waaah. </p> https://boards.hellobee.com/topic/fsa-and-aging-out-of-daycare#post-2903988 Sat, 30 Nov 2019 10:24:26 +0000 gotkimchi 2903988@https://boards.hellobee.com/ <p>@petitenoisette: oh ok yes 6000 is def 2 kids </p> https://boards.hellobee.com/topic/fsa-and-aging-out-of-daycare#post-2903987 Sat, 30 Nov 2019 09:59:19 +0000 petitenoisette 2903987@https://boards.hellobee.com/ <p>Like @SweetCaroline: said, I just pay for DC and then get reimbursed after the fact with the FSA. As long as your total spending is 5k over the course of the year it should work out even if that’s all concentrated before kindergarten starts. @gotkimchi: The 6k is based on two kids so I think it def is better for OP to do the FSA with just one child. </p> https://boards.hellobee.com/topic/fsa-and-aging-out-of-daycare#post-2903961 Fri, 29 Nov 2019 21:24:41 +0000 SweetCaroline 2903961@https://boards.hellobee.com/ <p>@macintosh: If you want to move forward with the dependent care FSA, you'll just pay your daycare out of your regular bank account and submit for reimbursement from the FSA when the funds are there.</p> <p>This is very common. I just reimburse myself $5K at the end of the year...Merry Christmas! Obviously each individual situation is different, including cash flow, tax position, etc. </p> https://boards.hellobee.com/topic/fsa-and-aging-out-of-daycare#post-2903959 Fri, 29 Nov 2019 19:58:31 +0000 Jess1483 2903959@https://boards.hellobee.com/ <p>Your FSA should have a “pay me back” option for childcare. We spent way more on childcare the first half of the year than the second, and so we kept getting paid back from our FSA even after those things were over. So I budget for the whole year even though it’s not even over the whole year. </p> https://boards.hellobee.com/topic/fsa-and-aging-out-of-daycare#post-2903956 Fri, 29 Nov 2019 19:41:04 +0000 gotkimchi 2903956@https://boards.hellobee.com/ <p>@macintosh: we just had open enrollment and the childcare credit you get 20% of 6000 = 1200<br /> The fsa you save your tax bracket so 22% of 5000 = 1100 plus you get 20% of the remaining 1000 credit so 200 so total is 1300. Not enough for me to stress over the 100 and it’s better then losing out on money if the fsa gets messed up. </p> https://boards.hellobee.com/topic/fsa-and-aging-out-of-daycare#post-2903955 Fri, 29 Nov 2019 19:30:48 +0000 macintosh 2903955@https://boards.hellobee.com/ <p>@MamaCate: Yes, my company is doing open enrollment and our daycare is actually part of our organization. I'm surprised my daycare director hadn't heard this question before. From what I've read it looks like you cannot use an FSA to pay for Kindergarten tuition (our district has a fee for full day as well). </p> <p>@gotkimchi: Correct. I'm so bad at personal finance, I have no idea what my tax bracket is :bummed: </p> <p>@gotkimchi: Yeah it doesn't make much sense to me that you can't change the deduction when the need for care changes, so I may just forego it. </p> https://boards.hellobee.com/topic/fsa-and-aging-out-of-daycare#post-2903953 Fri, 29 Nov 2019 19:23:07 +0000 gotkimchi 2903953@https://boards.hellobee.com/ <p>@MamaCate: yes you can use it for after care, childcare on days off summer camp etc. @macintosh: would that add up enough? Totally depends on your schedule </p> https://boards.hellobee.com/topic/fsa-and-aging-out-of-daycare#post-2903952 Fri, 29 Nov 2019 19:20:15 +0000 gotkimchi 2903952@https://boards.hellobee.com/ <p>So he starts in fall of 2020? And u can’t use it until it deducts from the paycheck. Hmmm i probably wouldn’t do it and would claim the childcare tax credit instead. At my tax bracket 22-24% it’s basically a wash </p> https://boards.hellobee.com/topic/fsa-and-aging-out-of-daycare#post-2903951 Fri, 29 Nov 2019 19:18:06 +0000 MamaCate 2903951@https://boards.hellobee.com/ <p>@macintosh: we are in the same boat with our 4 y/o heading to kinder next year. My understanding of my FSA plan (ours is technically a dependent care account) is that you opt in or out on a year by year basis at open enrollment. We have been using the fsa for a few years but are not planning to continue for 2020 for the reason you outlined. We will pay a contribution for full day kinder but I have not looked into whether it qualifies and it is so much cheaper than full time preK costs that I have decided not to bother. But if you are using after care with kinder that might be worth investigating? </p> https://boards.hellobee.com/topic/fsa-and-aging-out-of-daycare#post-2903950 Fri, 29 Nov 2019 19:03:31 +0000 macintosh 2903950@https://boards.hellobee.com/ <p>DS attends full time daycare/preschool and currently I am using FSA deductions to pay for most of the fee's with pre-tax money. It's a great benefit, but I'm struggling with what to do for next year when he ages out of daycare and starts Kinder in August.</p> <p>Am I allowed to stop the contributions when he starts Kinder? I can't find anything like that in my qualifying event info. If I were to elect a lower amount per paycheck, I'd never have enough to pay my daycare bill and I'll still have money left over at the end of next year.</p> <p>Any experience with this?</p> <p>Any experience with this? </p>