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Money and Finances
Reply to "SALT Tax Deduction Increase"
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[quote=Anonymous][quote=Anonymous]If we’re going to raise a cap, I wish it was the childcare FSA limit. 5k is peanuts compared to the cost of childcare and could help out a lot of families regardless of ability to own a home.[/quote] Yeah agreed there. I spent 44k on childcare in 2023. 5K is pretty small FSA limit compared to that. And I only get a few hundred back with the dependent care credit. Yes I’m a high earner and can’t complain about my lot. but I’m spending a ton of take home pay (more than my mortgage) on childcare and the tax benefit does not stack up. Especially when you consider that daycare spend is creating jobs and daycare availability is keeping people with young kids in the workforce.[/quote]
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