Dependent Care Account (Section 129)
Child care and adult dependent care expenses can be very costly. With a TAG flexible spending account participants are able to contribute up to $5,000 per year into their FSA for qualified dependent care expenses. By paying for dependent care with pre-tax money from an FSA, participants can easily save more than $2,000 per year! Use our online FSA savings calculator to calculate your savings.
- 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.
