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M1CD, Child and Dependent Care Credit M1CD, Child and Dependent Care Credit 2022-2025

M1cd 2022-2025 Form

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let's talk about dependent care fsa last month i made a video on how we plan to grow our hsa to 460 thousand dollars and how we could contribute to what's called a limited expense health care fsa to save money on taxes you can check out that video and i will put that link in the description below now a dependent care fsa is another pre-tax benefit account that you can use through your employer and you can use it for preschool summer day camp before after school programs and child day care a lot of parents don't use the dependent care fsa even when they're eligible for this benefit i don't know why but let me break down how you can save money on taxes with this benefit so if you're in the 24 federal tax bracket for every 1 000 you spend on dependent care with an fsa you could save about 240 in federal taxes now i am not a tax expert so you should get with a cpa to find out how much you can actually save on taxes by using the dependent care

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MN DoR Schedule M1CD 2022
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MN DoR Schedule M1CD 2020
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