Office of Labor Relations

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DEPENDENT CARE ASSISTANCE PROGRAM (DeCAP) SAVINGS CALCULATOR

- 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 $5,000, including $48 annual administrative fee):

$

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

$

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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