Here's what you need to know about flexible spending accounts. Learn more here: https://www.clickondetroit.com/moneymonday/Flexible spending accounts (FSAs) allow you -- if you’re employed -- to set aside pre-tax dollars to pay for qualifying medical or dependent care expenses such as daycare or elder care. We’ve talked a lot previously about the medical accounts, but today we’re looking at the dependent care part. First, this program goes by several different names: The dependent care assistance program, or dependent care reimbursement accounts. They’ve upped the amount you can set aside for 2022.

Source: Forbes November 08, 2021 23:51 UTC