Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

dependent care plan

Read a random definition: nisi prius

A quick definition of dependent care plan:

A dependent care plan is a type of savings account that helps people with dependents, like children or disabled family members, reduce their taxable income. People can set up the account with their employer and have money withheld from their salary to go into the account. The account can only be used for certain expenses, like medical or sitter costs, for dependents under the age of 13 or those with a qualified disability. After paying for eligible expenses, people can apply for reimbursement from the account. The limit for how much can be withheld each year without incurring taxes is $5,000 in 2022.

A more thorough explanation:

A Dependent Care Plan, also known as a Dependent Care Assistance Plan (DCAP) or a Dependent Care Flexible Spending Account (DPFSA), is a type of savings account that helps individuals with dependents reduce their taxable income. This plan allows a person to set aside money from their salary to pay for eligible dependent care expenses, such as child care or care for a disabled dependent.

For example, if a person has a child under the age of 13 and pays for daycare, they can set up a DCAP with their employer. They can then have money withheld from their salary to go into the account, which is not taxed. After paying for daycare, they can submit a claim to the DCAP for reimbursement of eligible expenses.

It's important to note that the Internal Revenue Service (IRS) sets limits on how much can be withheld each year without incurring taxes. In 2022, the limit is $5,000. Additionally, DCAPs can only be used for dependents under the age of 13 or those with a qualified disability, and the plan will only cover certain expenses such as medical or sitter costs.

dependent | dependent relevant revocation (DRR)

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
Minus those random R decisions from UMN yesterday though right? I wonder what happened there. I don’t think I’ve seen a school start the season out with anything but As on here
almost all of my apps have been UR for 6 weeks at this point I feel exhausted waiting for them to finish
Irvine is being snobby and wont start any review until end of Nov.
Yeah, it’s tough. I’m distracting myself by playing good video games after work :)
im distracting myself by schizo-scrolling r/lawschoolamissions and every conceivable data point on this godforsaken website
it is not working
Haaa I naturally want to do that too. I’m trying to stop. They need a surgeon general’s warning on this site for perspective law students
i spend more time on here then anything else trying to rationalize that the waves from last year will match waves for this year (they won't) and that the stats of people with the same stats are indicative of my own (they aren't)
There aren't many people in my stat range so I pretty much know every result in my range after being on here for a few years
9:28
congrats on the 172 bruce
go dawgs fr
9:29
roll tide
do we foresee a fordham election day wave today (i'm delusional)
WorthlessAttractiveZombie
9:31
I think so, Jack
9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
LSD+ is ad-free, with DMs, discounts, case briefs & more.