Sentences with phrase «qualified child care expenses»

Furthermore, the Child and Dependent Care Credit, which allows parents to deduct qualified child care expenses, has been kept in place.

The Working Family Household and Dependent Care Credit allows low - income and moderate - income families to claim a credit on qualifying child care expenses.

Not exact matches

The child and dependent care credit covers expenses paid for the care of a qualifying individual, including those with physical and mental disabilities.

For those families who qualify for financial aid and are traveling from out of town, the Child Mind Institute Cares Fund offers a daily stipend for travel expenses.

If you're single, married filing jointly, head of household, or a qualifying widow / widower with a dependent child, you can claim a credit for up to 35 percent of your child or dependent care expenses.

Additional qualifying expenses include costs related to before - and after - school care for children under 13 and expenses related to a nurse, home care provider, or other care provider for a disabled dependent.

If you paid a daycare center, babysitter, summer camp, or other care provider to care for a qualifying child under age 13 or a disabled dependent of any age, you may qualify for a tax credit of up to 35 percent of qualifying expenses of $ 3,000 for one child or dependent, or up to $ 6,000 for two or more children or dependents.

Qualifying expenses also include childcare provided by a babysitter or licensed dependent care center and the cost of a cook, housekeeper, maid, or cleaning person who provides care for the child or dependent.

Until a few years ago, the child care credit applied to no more than $ 4,800 of qualifying expenses.

You may qualify for thousands in tax credits and deductions for qualifying dependents, or you may be able to deduct child care related expenses.

You're allowed to set aside before tax money in a separate savings account that can be used for qualifying dependent care expenses like day care, summer day camps, child care and elder care expenses.

The bill also allows a new tax credit for 50 % of the child care educational expenses, up to a maximum of $ 1,000 in any taxable year, paid with respect to the operation of a qualified child care center.

A: There is no «deduction» available, but expenses for day camps might qualify as daycare expenses for purposes of the Child and Dependent Care Credit.

To qualify, you must pay child care costs separate from tuition and other expenses.

If you made less than $ 70,000 (single parents) or less than $ 100,000 for married couples, you will qualify for a tax credit called dependent care expenses credit for up to 2 children.

Therefore, the maximum Child and Dependent Care Credit is worth $ 2,100 (based on 2 or more dependents and $ 6,000 or more of qualifying expenses).

Qualified child - or dependent - care expenses are those you incur while you work or look for work.

Expenses for child and dependent care may also qualify as medical eExpenses for child and dependent care may also qualify as medical expensesexpenses.

So, for example, if you have two qualifying persons and you contributed $ 5,000 to a flexible spending account via your employer, you can only use $ 1,000 ($ 6,000 — $ 5,000) as the dollar limit of care expenses in computing your Child and Dependent Care crecare expenses in computing your Child and Dependent Care creCare credit.

The credit is based on up to $ 3,000 of child care expenses for one qualifying person and up to $ 6,000 total for two or more qualifying persons.

The credit — which ranges from 20 percent to 35 percent depending on your income — can be applied to as much as $ 3,000 of qualifying expenses if you pay for the care of one qualifying child, or up to $ 6,000 if you pay for the care of two or more.

However, the custodial parent, if eligible, or other eligible person can claim the child as a qualifying child for head of household filing status, the credit for child and dependent care expenses, the exclusion for dependent care benefits, and the earned income credit.