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Wife is launching a business unlikely to generate much income during the coming fiscal year. We are putting our two children into preschool to make time for her to work on the business. My employer offers a childcare and dependents FSA.
Is there any reason not to contribute to the FSA and use it to pay for childcare under the assumption that wife's business might make her more earned income than expected?
If she makes 0 earned income, we'll just have to pay the taxes on the pre tax FSA, and if she makes anything under the FSA set aside, then that income will essentially be tax free.
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