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Money and Finances
Reply to "Daycare costs, FSA and taxes"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Why can't anyone allow the full price be deducted we paid 50k for a nanny and could only deduct 4k. You should be able to deduct the entire amount. I am hopeful Trump helps with this struggle.[/quote] I deduct $5K through an FSA, but I wish the deduction were 0. Childcare/nanny deductions are a pure giveaway to the upper middle class and the wealthy.[/quote] I ran the numbers -- with two working parents making $250K, taxes are about $3K higher than with one working parent making $250K (and no child care costs with a work at home parent). So it works out about the same. [/quote]
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