Letâs assume that a pure bread goat cost $300 each and a badger costs $500 each. (as a side note I found it is illegal to own a badger in England. Who knew? That would make the total cost of those two layers about $216,000 Maybe we could get a deal on bulk goats â Iâm not sure how that would work.
Some employers allow a grace period of up to two-and-a-half months into the next plan year during which you can claim FSA expenses against your current year's account balance. You must be participating at the end of the plan year for the grace period to apply. Click here for details on the grace period.
When the FSA deal is available, it can offer even more tax savings than the credit. Hereâs what you need to know about both breaks. Child-care credit. The credit can only be claimed for child-care expenses so you can work. If youâre married and file jointly, you can generally claim the credit only if your spouse also works or goes to school full-time for at least five months during the year.