Flexible Giving Account Calculator
Use this calculator to see how participating in a Flexible Giving Account (FGA) can help you pay less tax, with your charitable giving.
How the flexible giving account calculator works
It multiplies your dependent care FSA contribution by your combined tax rate to estimate the tax saved on childcare or eldercare costs paid with pre-tax dollars.
Worked example: with dependent care fsa contribution of $2,500 and combined tax rate (income + fica) of 30.00%, the flexible giving (dependent care) account calculator shows tax saved with the account of $750.
- Pre-tax contribution
- $2,500
- Tax savings
- $750
- Net cost to you
- $1,750
- Effective discount
- 30%
The formula
Tax savings = dependent care FSA contribution × combined tax rate; net cost = contribution − savings.
Results are estimates for educational purposes and are not financial advice. Confirm exact figures with your lender, plan administrator or advisor.
Questions about the flexible giving account calculator
What is a dependent care FSA?
A pre-tax account for work-related childcare or eldercare expenses, with a limit around $5,000 per household. It lowers the real cost of care by your tax rate.
How does it differ from a healthcare FSA?
It covers dependent care (daycare, after-school, eldercare) rather than medical expenses, and has its own separate contribution limit.
Can I use it with the child care tax credit?
You can use both, but not on the same expenses. Coordinating them takes some planning; for many families the FSA captures most of the benefit first.
Is the Flexible Giving Account Calculator free to use?
Yes. Every calculator on FinCalculators is completely free, with no sign-up, login or paywall. You can run as many scenarios as you like.