A new study by Care.com estimates that, after years of increases, 47% of parents now spend up to $18,000 a year on childcare costs, which is now almost the cost of a year of college tuition.
How will the Child Care Cliff affect parents? parents.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from parents.com Daily Mail and Mail on Sunday newspapers.
With American Rescue Plan funding ending, the Mountain State is bracing for 604 potential daycare center closures impacting more than 23,000 West Virginia children. We're facing a critical point when it comes to childcare for families across the country, especially in West Virginia. "In just a few short days the childcare funding that was allocated
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Late December is when many Americans rush to spend any money left in their Flexible Spending Accounts â those workplace plans funded during the year to pay medical expenses. The stimulus package, which President Trump signed Sunday, will give these workers a temporary reprieve.Â
One of the many provisions in the stimulus package allows those who have FSAs to roll over the remainder of their accounts from 2020 to 2021 and from 2021 to 2022. The same rules apply to Dependent Care FSAs, which are similar plans that benefit an employeeâs dependents, such as a young child or an elderly parent.Â
Workers could set aside up to $2,750 in pretax funds for individuals in Health FSAs and up to $5,000 per family, also before taxes, for dependent care FSAs in 2020. Under normal circumstances, the use-or-lose provisions in these plans generally require that the money be spent by year-end or be forfeited.Â