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Can you use a flexible spending account and claim the childcare tax credit?
Wiki User
∙ 11y ago
Yes. The Flexible Spending Account is simply a before tax method of paying for medical expenses and it has no impact on unrelated tax items. Use of the FSA does prevent being able to also claim a medical expense deduction. The childcare tax credit is unrelated and can be claimed.
Wiki User
∙ 11y ago
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Will a flexible spending accounts help build credit?
No
If you have a flexible spending account can you qualify for the child and depende NT care credit?
The child care tax credit limit is $3,000 for one child, and $6,000 for two or more children. The Flex limit is $5,000. If you are paying for one child the answer is no. If you are paying for two or more children, you can utilize the extra $1,000 and apply it to your Child Care Tax Credit.
What is the purpose of a credit limit?
A credit limit is applied to stop the user simply spending beyond their means. It also allows the lender to see how the customer operates their account. Credit limits usually start fairly low - but can be increased if the customer is using the account sensibly.
My PayPal spending limit is 0.00 USA. I want to buy a 5.00 Battlefield heroes battlefunds payment and i have 5.00 in my account but it says my transactions exceed my spending limit. how to lift it?
There is a link in your account on how to lift the spending limit. It is different depending on which country you live in. It may require you to simply to add a credit card, or it may ask you to add and confirm a bank account.
What credit card company has the highest credit spending limit?
The highest spending limit will vary person depending on one's credit score and ratings. The following credit card companies have the highest credit spending limit: Chase, Turbo B, Amex Black card.
What kind of account for credit cards?
A credit account
How high is a credit card?
The limit of the credit card issued by your bank is determined on the basis of your financial standing,credit worthiness. So, it varies from person to person. persons having multiple credit cards, have a spending tenacity whereas the debit card holders are tied by their account balances.
Can you explain what the difference is between unsecured and secured business credit cards?
Unsecured credit cards allow free spending with a credit limit. They are the most common type of credit card and are based upon trust. Secured credit cards are backed by funds that are pre-paid into the account or collateral. They are more like a loan.
What is the difference between debit account and credit account?
There are two main differences that stand out between a Debit Account and a Credit Account, those are;A Debit Account always maintains a Debit Balance, meaning the account increases with a Debit to that account and decreases with a Credit to that account. These are generally Asset Accounts.A Credit Account is just the opposite, A Credit Account maintains a Credit Balance, meaning that the account increases with a Credit and decreases with a Debit, these accounts are usually used for Liabilities and Owners Equity (Stockholders Equity).
Does a Credit to a liability account increases or decreases?
It increases the credit account
If you register a credit card to your PayPal to lift the spending limit and use the money in the account not on the credit card to buy a game subscription will the cost show up on the card statement?
No, it won't. The only time costs will show on your card statement is if there aren't enough funds in your Paypal account and they have to be taken from your credit card. Then it should just show as a deposit to Paypal.
What credit means that an account has been increased?
Any credit is an increase to an account. A debit is a decrease to the account.
