Erica is single and a mom of a 4 year old child. Erica has net taxable income and salary of $14,000 making her a 12% marginal income tax payer. She spends $3,000 on child care expenses. Should Erica take the child care credit or put $3,000 in the FSA?

FSA by $241.

FSA by $141.

Child care credit by $460.5.

Child care credit by $690.

Answer rating: 100% (QA)

ANSWER FSA by 241 Explanation A Flexible Spending Account also known as a flex... View the full answer