Mayra is single and a mom of a 2 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? O Child care credit by $60. FSA by $241. FSA by $50. They are the same.
Mayra is single and a mom of a 2 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? O Child care credit by $60. FSA by $241. FSA by $50. They are the same.
Chapter3: Computing The Tax
Section: Chapter Questions
Problem 11BCRQ
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