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TJG210
LSU Fan
New Orleans
Member since Aug 2006
23326 posts

Best way to claim babysitter on our taxes.........

My wife and I employ a babysitter full time for our twin girls.....everything is paid for properly. Is it better to claim this on our taxes or for each of us to contribute the max to our FSA account?

Even if we both contributed the max, it wouldn't equal to her pay.....would we then be able to claim the difference on our taxes?


Pierre
LSU Fan
Baton Rouge
Member since Nov 2005
4167 posts

re: Best way to claim babysitter on our taxes.........
How old are they? I'd seriously look into day care if they are 8 months or so. Helped outa lot


yellowfin
Illinois Fan
Coastal Bar
Member since May 2006
78148 posts

re: Best way to claim babysitter on our taxes.........
Have you been withholding taxes?


TJG210
LSU Fan
New Orleans
Member since Aug 2006
23326 posts

re: Best way to claim babysitter on our taxes.........
They are 8 months old......but it works out that it's probably cheaper for us to pay for a nanny than day care. Especially when you consider not having to scramble to find someone on sick days, and then not having to bring them or pick them up......a nanny is definitely something that makes our life easier.


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TJG210
LSU Fan
New Orleans
Member since Aug 2006
23326 posts

re: Best way to claim babysitter on our taxes.........
quote:

Have you been withholding taxes?


Yes


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Catman88
LSU Fan
Baton Rouge, LA
Member since Dec 2004
41509 posts

re: Best way to claim babysitter on our taxes.........


TJG210
LSU Fan
New Orleans
Member since Aug 2006
23326 posts

re: Best way to claim babysitter on our taxes.........
Right, but that doesn't tell me if its better to use the flex spending account to partially pay for the sitter, and deduct the rest. Or just deduct the entire lot.


LSUAfro
LSU Fan
Baton Rouge
Member since Aug 2005
11587 posts
Online

re: Best way to claim babysitter on our taxes.........
How much does the sitter cost? Give some numbers and we can plug and play.


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Poodlebrain
LSU Fan
Way Right of Rex
Member since Jan 2004
17566 posts
Online

re: Best way to claim babysitter on our taxes.........
The best approach depends on your income level. This place explains Dependent Care Flexible Spending Accounts pretty well. LINK


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BFIV
Virginia
Member since Apr 2012
1636 posts

re: Best way to claim babysitter on our taxes.........
If you're doing your return yourself or if you are paying a professional to prepare the return, run your scenario through a tax preparation program with all your various choices. See which one choice then gives you the most favorable bottom line. Without actual numbers, no one can give you the exact best answer. Child care credit has limitations, btw. And if you report the babysitting fees on your return, you have to furnish the social security numbers of your babysitters. The IRS uses that information to make sure your babysitters include that income on THEIR return.


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