I'm not sure about whether I should use and child care flexible spending account or not. If I take pretax dollars and put them away to use for childcare, do I still get the benefit of a child care tax deduction when I file my taxes? Is that double-dipping?
FSA is a better deal in the long run for you. It's prededucted from your taxable income, usually allowing you higher take-home income up front. If you use up your FSA amount, only the additional over and above what you previously withheld would be deductible on your taxes. Good Luck.
You can't claim the child care credit for the same money as came from you FSA. But if your eligible expenses were more than the FSA allowed, you can use the rest of the expenses NOT from the FSA toward the credit.
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