Question
If you participate in a dependent care flexible spending account (FSAFEDs), can you still claim your child care expenses on your income taxes?
Answer
Generally not, though you may want to consult a tax professional. The Federal government will allow you to have either a dependent care flexible spending account or take the Dependent Care Tax Credit on your income taxes. You can weigh whether the dependent care flexible spending account or the child tax credit is more beneficial to you. For more information, visit https://www.fsafeds.com/.