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DEPENDENT CARE ASSISTANCE PROGRAM (DeCAP) SAVINGS CALCULATOR FOR PLAN YEAR 2023

- 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 $2,750, including the annual administrative fee of up to $48):       $
Enter your total annual dependent care expenses here. Note that the maximum yearly contribution to DeCAP is $5,000, including the annual administrative fee of 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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