Dependent Care Account (Section 129)
Dependent Care FSA’s are a great resource for managing childcare expenses. With a DCFSA you can allocate pre-tax funds to cover eligible dependent care costs, such as daycare, after-school programs, and summer camps. By doing so, you unlock tax savings, easing the financial burden of childcare. TAG’s intuitive platform ensures a seamless experience, allowing you to effortlessly plan and budget for your family’s needs.
- Eligible dependent care expenses include before and after school care, tuition for pre-k or nursery school, summer day camps, nanny services, in-home adult care and more.
- Only expenses for children under the age of 13 qualify as eligible expenses.
- The IRS limit for dependent care contributions is $5,000 per year.
Please contact a TAG representative for additional details about pre-taxing your dependent care expenses.
