 |
Definition of 'Dependent Care Benefits'
Benefits provided by an employer to an employee for use in caring for dependents such as newborns or disabled persons. Dependent care benefits are part of the overall employee benefits plan and can be found in box 10 of the employee's W-2 form.
|
 |
Investopedia explains 'Dependent Care Benefits'
Most employers will offer some level of benefits. For example, a company could provide a daycare center for employees or give time off to care for newly adopted children or dependent elderly persons.
The first $5,000 ($2,500 if your filing status is married filing separately) of dependent care benefits are tax-free. This also applies to pretax deferrals to a flexible spending account earmarked for dependent care.
|
-
These accounts can lower your taxable income and help you support a dependent family member.
Read More »
-
Choosing to stay at home with the kids is a choice that has both positive and negative financial consequences.
Read More »
-
A few tax credits can greatly increase the amount of money you get back on your return.
Read More »
-
-
If you are a caregiver, get to know the rules for claiming a dependent before filing your taxes.
Read More »
-
Child care costs can be a shock to new and expecting parents, but are some programs in place to help with the first few years.
Read More »
-
Overwhelmed by increasing tuition costs for your kids? The U.S. government can help.
Read More »
-
Starting a new job is stressful but you don't need to sweat about setting up a benefits package.
Read More »
-
It now costs nearly $300,000 to raise a child for 18 years. Are you sure you're up for it?
Read More »
-
Find out how to deal with the tax issues that arise for divorced parents with dependent children.
Read More »
|
|
