If you’re one of the millions of Americans that pays out-of-pocket for work-related dependent care services each month such as day care, preschool or after-school care, a Dependent Care FSA can help you reduce your taxes and save meaningful money. Expenses related to dependent care are for children under the age of 13 or other tax-dependent who is physically or mentally incapable of self-care.

The maximum contribution to a dependent Care FSA allowed by the IRS is $5,000 a year for individuals or married couples filing jointly, or $2,500 for a married person filing separately.

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