but for me, it's only worth $600. In the 22% tax bracket, the FSA saves you $1100 (22% of 5000 max) on taxes so you have a net tax savings of $500. If you have more than one kid, the math is different. For 2 kids, I think you still come ahead but not as much. You have a $1200 childcare tax credit so you would see the $1100 tax savings but you can still use part of the childcare tax credit ($6000 max with 2 kids). At my income, I get 20% of the amount for the tax credit so I would see an additional $200 for a total of $1400. But at lower incomes, you get a higher percentage but the cap is always the same.