Dependent Care FSA Estimator

Enter your expected expenses for the year ahead to provide care for an eligible child or an adult dependent so that you can work. Estimate your expenses carefully. Due to the IRS "use it or lose it" rule, you will forfeit any money in excess of the qualified expenses you incur between January 1, 2017 and December 31, 2017 that you submit by the May 1, 2018 claim filing deadline.

Also, keep in mind that you may be eligible to take advantage of the federal tax credit for child and dependent care as an alternative to using the Dependent Care Reimbursement Account. You may wish to consult a tax advisor to determine whether the federal tax credit or Dependent Care Reimbursement Account is best for you.

Please enter amounts in whole dollars (no decimal point, comma, or dollar sign).

Dependent Care Expenses You Incur So You Can Work Your Projected 2017 Cost
Babysitters in or outside your home: $
Licensed day-care centers: $
Preschools/nursery schools: $
Summer day camps: $
Care providers for qualified adults: $

Income Tax Filing Information (to help estimate your tax savings)
Filing status (required field): Number of dependents:
Do not include yourself or your spouse.
Total annual income:
Enter estimated income for 2017 from all sources you would include on your tax form, including wages, bonus, investment income, etc. Include income for your spouse if your filing status is "Married (joint)".

> Calculate/Recalculate to determine the following:

Your Results
Total projected expenses:
Suggested contribution amount based on total projected expenses (Maximum contribution for 2017 is $5,000; $2,500 if married and filing separately):
Potential federal income tax savings:
Potential FICA tax savings:
Total estimated federal and FICA tax savings:
You may also save money on state income taxes.
This tax savings estimate does not take into account the federal tax credit that you might be eligible for if you claimed the expenses shown above when you file your annual income tax return, instead of using the Dependent Care FSA. Based on the annual income information you provided, you could be eligible for an estimated federal tax credit of:
With dependent care expenses for one child: % of expenses, up to $ maximum tax credit.
With dependent care expenses for two children or more: % of expenses, up to $ maximum tax credit.

> Reset form and enter new projection amounts. To modify a current scenario, simply adjust the numbers above and click the Calculate/Recalculate button.

Note: This Dependent Care FSA Estimator is an estimating tool only. Estimate your out-of-pocket expenses carefully. You cannot change your contribution amount after enrollment ends, unless you experience a qualified status change, and you forfeit any money you have not claimed by the May 1 claim filing deadline for the plan year.

Using this calculator does not enroll you in a Dependent Care FSA.