What is a Dependent Care FSA?

What is a Dependent Care FSA?

Dependent care is expensive! Like the Child Tax Credit, a Dependent Care Flexible Savings Account, or DCFSA, is a taxpayer benefit for parents (and also in this case, taxpayers who have non-spouse adults who depend on them). Goodness knows, we need it! If you’re familiar with a medical Flexible Spending Account (FSA) or Health Savings Account (HSA), you may already have a good idea of what an FSA essentially is. Just in case you haven’t, we’re going to start this article with an explanation of what an FSA is in general. After that, we’ll cover the tax savings you get…
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Therapy Practices: What to Think About the Pandemic “Ending”

Therapy Practices: What to Think About the Pandemic “Ending”

The pandemic may be winding down in the United States, which is definitely not the same thing as it “ending.” We’re aware that there are places where COVID is heating up, including India, and our hearts go out to all of the people struggling there. Even after COVID “ends,” things may never go back to normal for many reasons, even in the United States. There are jobs that have gone remote and will never go back to in-person. There are people who have self-isolated for so long that it has harmed their mental health, and some of these people will…
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When Should a Psychologist Incorporate?

When Should a Psychologist Incorporate?

As a psychologist, you are an expert in the realm of the mind, and you understand better than we do how the build-up of stress can affect other areas of a person’s life. We can make an educated guess that you might be stressing about taxes and liability protection, because pretty much every business owner stresses about these things. Incorporating can protect you from liabilities, and potentially reduce your tax burden but it involves a lot of administrative work. The best time for a psychologist to incorporate is at one of three major junctures of the life cycle of your…
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