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Flex Spending Accounts Programs
DeCAP > Calculator

DeCAP Worksheet

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DEPENDENT CARE ASSISTANCE PROGRAM (DeCAP) SAVINGS CALCULATOR FOR PLAN YEAR 2014

- Enter the requested information below to calculate your DeCAP tax savings
- Use the TAB key or mouse to move within the worksheet
- Do not use the ENTER key as a way to navigate through this worksheet or to complete your calculation.

Number of Exemptions Claimed:

 Federal
 State
 City


Tax Status: 

 Single    Married


Number of Eligible Dependent Children under Age 13 for Whom You Incur Dependent Expenses:

 


Your Gross Annual Income:




Are you in the Pension System?

 Yes    No

Annual Pension Contribution: $


Enter Annual Health Insurance Premium:




If you are a participant in the Health Care Flexible Spending Account Program enter annual contribution (maximum $2,500, including annual administrative fee up to $48):




Enter your total annual dependent care expenses here. Note that the maximum yearly contribution to DeCAP is $5,000, including annual administrative fee up to $48:

$


Enter annual contribution to the TDA Plans (457, 401k, 403b), including Deferral Acceleration for Retirement (DAR), if any:

$


Excluding DAR, is your annual contribution to any one of the TDA Plans equal to or more than 7.5% of your gross annual income?

 Yes     No


Enter annual After-Tax Deductions (MCU, Union Dues, Saving Bonds, Pension Loan, Child Support, etc.):



  
DeCAP SAVINGS COMPARISON

DeCAP
Tax Credit
YOUR GROSS ANNUAL INCOME: $ $
P

R

E

-

T

A

X

Pension Contribution:

Health Insurance Premium:

Annual Amount for Health Care Flexible Spending Account Program Expenses:

Dependent Care Assistance Program Annual Contribution:

Dependent Care Assistance Program Administrative Fee:


Deferred Compensation Plan Annual Contribution:

ADJUSTED GROSS INCOME: $ $
Federal Income Tax:

New York State Income Tax:

New York City Income Tax:

FICA Deduction:

Medicare Deduction:

Federal Tax Credit:
New York State Tax Credit:
After-Tax Cost of Dependent Care Expenses:

After-Tax Deductions (MCU, Union Dues, Saving Bonds, Pension Loan, Child Support, etc.):

TAKE-HOME PAY $ $
DeCAP TAX SAVINGS

Please Note: 1) This worksheet provides only estimates of tax information and should not be assumed to be tax advice. Be sure to consult a tax advisor to determine the appropriate tax advice for your financial situation.  2) This worksheet is not intended nor shall be construed as a guarantee of tax savings.

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