SMART savings on dependent care expenses!

The same folks who brought you the Healthcare Flexible Spending Account present the city’s 2007 Dependent Care Reimbursement Plan, which can make you a winner in the rough and tumble financial game of life. Use this plan to save on your taxes.

With the DCRP, you can set aside a portion of each paycheck for dependent care expenses. This amount is deducted from your paycheck before taxes are calculated, so the taxes you owe should decrease. In other words, you won’t pay taxes on money spent for eligible dependent care expenses and your take-home pay may increase, too.