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[quote=Anonymous][quote=Anonymous][quote=Anonymous]OP, if you used a pre-tax savings account for childcare expenses, you can't use the tax credit being discussed.  It's one or the other.  If you have the option to use a pre-tax savings account in the future, it would probably save you more money than the tax credit at your income level.[/quote]
Different poster.  Can you help me think through those two options?

Option A: Take advantage of the Childcare Credit.  Assuming we earn enough to suffer the max phase-out, we get a tax credit of about $1,200 for 2+ children.

Option B: Use a pre-tax flex spending account for childcare.  We can use up to $5,000 total in the flex account, in pre tax dollars.  We're in the 35% bracket, so we'd essentially be avoiding $1,750 in taxes with the flex account.

Is that generally correct?[/quote]

yes, i think you basically answered your own question. the question is whether the administrative hassle of getting the FSA reimbursed is it worth the extra $550 to you. [/quote]

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