Archive for the ‘day care expenses’ Category

Summertime Child Care Expenses May Qualify for a Tax Credit

Thursday, July 8th, 2010

If your child is under 13 years old, their summer day care expenses may qualify.

 

These are the rules:

·         Cost of day camp may count as an expense towards the child and dependent care credit.

·         Expenses for overnight camps do not qualify.

·         The actual credit can be up to 35 percent of your qualifying expenses, depending on your income.

·         You may use up to $3,000 of the unreimbursed expenses paid in a year for one qualifying individual or $6,000 for two.