Erin is single and a
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
am.111.
Transcribed Image Text:Erin is single and a mom of a 4 year old child. Erin has net taxable income and salary of $45,000 making her a 22%
marginal income tax payer. She spends $2,500 on child care expenses. Should Erin take the child care credit or put $2,500
in the FSA?
Child care credit by $60.
FSA by $125.
FSA by $131.
They are the same.
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