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Reply to "Tax question - Childcare FSA or deduct expenses?"
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[quote=Anonymous]Actually, 15:15 here and I'm realizing that's not true--the child care credit is based on a percentage (20% at our income, but it's phased down from 35%) of your costs relative to your income. I forgot about that because we get the full $1K back since we spend an ungodly amount of money on preschool/camp/etc., but we wouldn't if we only spent a small amount. So you probably do need to do the FSA (and just still be conservative so you won't leave money sitting there).[/quote]
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