12-8-11 Summer Day Care Could Lead to a Tax Credit

Summer Day Care Could Lead to a Tax Credit

Working parents or parents searching for work often require day care for their children under the age of 13. This is especially critical during the summer months when children are not in school and can prove to be quite expensive. What you may not know is that these expenses may qualify for a tax credit. Here are some important points regarding the potential credit:

• Not all summer camp expenses qualify for the credit. The costs for day camp could count towards the credit, while costs for overnight camps are not eligible expenses.

• The credit can be for up to 35% of your qualifying dependent care expenses.

• Qualifying child care providers include a babysitter at your home or a daycare facility elsewhere.

• For each child you can receive up to a $3000 credit with a maximum of $6,000 for two or more children.

If you would like more information, please contact our office.

 

 
 
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