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Taxes are one reason. You have to earn Y where Y >= X * 125% (vaguely speaking) just to break even. If your first thought is something like, maybe we shouldn't
by ip26 7y ago
Taxes are one reason. You have to earn Y where Y >= X * 125% (vaguely speaking) just to break even.
If your first thought is something like, maybe we shouldn't tax X spent on daycare- well, that's a subsidy.
- lutorm 7y agoIn fact, we don't (at least the first $5k, if you have access to a DCRA through your employer.) Why you need to have access to a DCRA and can't simply deduct child care expenses, I have no idea. It's like with an FSA, it seems someone wants to provide a benefit but is purposefully making it harder to use...
- ip26 7y agoIndeed, although $5k is nowhere near enough to cover full time childcare.