Today my kids summer camps were canceled. I called Oxy benefits and was able to turn off the payroll reduction of $192 a paycheck ($5000 annual election) for my daycare flex spending. I already have $1850 in the account I can only use for eligible daycare expenses. At this point that’s use it or lose it (IRS rule). I was advised they are allowing virtual camps as eligible expenses. Doesn’t really work for us and I’m going to hold on a decision for a few weeks. But at least I was able to stop the paycheck withdrawal. I’m hoping the feds change the rule to allow rollover or withdrawal. In the meantime, the extra $400 cash a month will help. I didn’t know this was an option. So I’m sharing for any of ya’ll in same boat.
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You can “expense” a “babysitter”....