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Employer Issues
Reply to "$600 write-off. Am I missing something"
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[quote=Anonymous]We had our taxes done in March and I was excited to see our tax liability decrease between having a baby and paying for childcare. We were paying about $2k per month to the sitter - not taxed. Though we are paying appropriate taxes now. But we were only eligible for a $600 write off. My question is this, other than the moral, legal obligations to pay the taxes and therefore a payroll company, what is the value in my embracing this expense and my civic duty to only get a paltry write off for spending $26k a year on child care. I know about the dependent care option, but $5k tax free savings isn't a lot of $$. I just want to make sure I'm not missing some benefit that is out there. [/quote]
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