Daycare Reimbursement!!

I finally figured out how this FSA thing works... which means more money back in my pocket! The Flexible Spending Account is an optional benefit offered through our new Human Resources contractor. Basically, money is deducted pre-taxes from my paycheck, thus reducing my annual pay--and the amount I get taxed-- by a significant amount. I can deduct up to $5,000 per year for childcare expenses, which is easy to do when I'm paying $120 per week. [BTW: That is an extremely reasonable rate, and Janet is a wonderful carer, so I'm very happy with Ethan in her home.] Anyhow, for a bit there I was getting a reduced paycheck *and* was unable to access the funds being set aside for daycare, which I still had to pay... I was basically paying double daycare for the past month. Ouch! This week, I was able to get all of the correct forms filled out, with the help of my husband and Miss Janet, and submitted them to the benefit claims department on Monday. On Wednesday, I was notified that they had already processed my claim and were transferring it to my bank account via direct deposit. How awesome (and fast!) is that?

Now I can use the money to either (a) get my car's smog check and registration taken care of, or (b) put together with another $200 to pay for tickets to Burning Man. Hmm....