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2736: Should I Sign Up for a Dependent Care FSA? By Andy Hill of Marriage Kids and Money on How to Save Money as A Family

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Manage episode 507619603 series 2334874
Content provided by Optimal Living Daily LLC and Optimal Living Daily | Greg Audino. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Optimal Living Daily LLC and Optimal Living Daily | Greg Audino or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.

Episode 2736:

Andy Hill explains how a Dependent Care FSA can provide significant tax savings for families with daycare expenses, while also highlighting the importance of planning ahead for its “use it or lose it” rules. He expands on other workplace benefits like 401(k) matches, HSAs with their triple tax advantage, and employer-provided perks that can help families save money and build long-term wealth.

Read along with the original article(s) here: https://marriagekidsandmoney.com/dependent-care-fsa

Quotes to ponder:

“Like the Flexible Spending Arrangement (or Account), it is essentially a separate account where you can save pre-tax money for use on qualified expenses.”

“Remember that an FSA is a ‘use it or lose it’ program.”

“Your HSA contributions are tax-deductible and your investments grow tax-free. And you can withdraw your money, tax-free at any time as long as you’re using the funds for qualified medical expenses.”

Episode references:

IRS Qualified Medical Expenses List: https://www.irs.gov/publications/p502

Lively HSA: https://livelyme.com

Learn more about your ad choices. Visit megaphone.fm/adchoices

  continue reading

2867 episodes

Artwork
iconShare
 
Manage episode 507619603 series 2334874
Content provided by Optimal Living Daily LLC and Optimal Living Daily | Greg Audino. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Optimal Living Daily LLC and Optimal Living Daily | Greg Audino or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.

Episode 2736:

Andy Hill explains how a Dependent Care FSA can provide significant tax savings for families with daycare expenses, while also highlighting the importance of planning ahead for its “use it or lose it” rules. He expands on other workplace benefits like 401(k) matches, HSAs with their triple tax advantage, and employer-provided perks that can help families save money and build long-term wealth.

Read along with the original article(s) here: https://marriagekidsandmoney.com/dependent-care-fsa

Quotes to ponder:

“Like the Flexible Spending Arrangement (or Account), it is essentially a separate account where you can save pre-tax money for use on qualified expenses.”

“Remember that an FSA is a ‘use it or lose it’ program.”

“Your HSA contributions are tax-deductible and your investments grow tax-free. And you can withdraw your money, tax-free at any time as long as you’re using the funds for qualified medical expenses.”

Episode references:

IRS Qualified Medical Expenses List: https://www.irs.gov/publications/p502

Lively HSA: https://livelyme.com

Learn more about your ad choices. Visit megaphone.fm/adchoices

  continue reading

2867 episodes

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