Podcasts about dependent care credit

In this episode of 20/20 Money, I break down some of the most impactful tax and planning changes introduced in the recently passed Big Beautiful Bill Act—Congress's sweeping update to the tax code that makes many TCJA provisions permanent while adding new wrinkles that matter to private practice owners.   Whether you're thinking about how to reduce your taxable income, maximize deductions, or just stay ahead of legislative changes that affect your financial life, this episode is designed to help you take stock and plan strategically.  

Welcoming a new baby is an exciting time, and it also brings new tax considerations. Let's dive into some key tax planning tips for new parents. First, there's the Child Tax Credit. For 2024, you can claim up to $2,000 per qualifying child under age 17. If your tax liability is less than the credit, you might be eligible for the Additional Child Tax Credit, which can provide a refund of up to $1,500 per child. Next, consider the Dependent Care Credit. If you pay for childcare so you can work or look for work, you may be eligible for a credit of up to 35% of your qualifying expenses, with a maximum of $3,000 for one child or $6,000 for two or more children. Don't forget about medical expense deductions. You can deduct unreimbursed medical expenses that exceed 7.5% of your adjusted gross income. This includes costs related to childbirth and your child's medical care. Health Savings Accounts (HSAs) are another great tool. If you have a high-deductible health plan, you can contribute pre-tax dollars to an HSA, which can be used for medical expenses. Contributions, earnings, and withdrawals are all tax-free when used for qualified medical expenses. For your child's future education, consider a 529 plan or other tuition savings plans. Contributions to a 529 plan may be deductible for state tax purposes, and withdrawals are tax-free when used for qualified education expenses. And here's a fun fact: a child born at the end of the year “counts” for the whole year. This means you can claim the Child Tax Credit and other benefits for the entire year, even if your baby was born on December 31st. Consult your CPA to ensure you're taking full advantage of these tax benefits and planning effectively for your family's future.

School's out and summer has arrived, bringing your kids home for the break! What does this mean for working parents? Summer camps are a popular solution, but they can come with a high price tag. In this week's episode, we dive into the Child and Dependent Care Credit, a tax-saving gem that can help alleviate the financial burden of summertime camps. But before diving into the details of tax strategies, we start by sharing our favorite summer camp movies. Then, we guide you through the steps to make summer camp fees tax-deductible. Grab your marshmallows for s'mores, watch out for spooky camp legends, and join us for this week's episode! The List: Best Summer Camp Movies Hashtags: #summercamp #summertime #theparenttrap #fridaythe13th #BullCamp Visit us online: www.bullcastpodcast.com Produced by Cameron Spann | Powered by Pickler Wealth Advisors Sound effects obtained from https://www.zapsplat.com

In this episode, Dr. Friday explains the Child Dependent Care Credit, which allows you to claim up to $3,000 in expenses for a single child and a maximum of $6,000 for two or more children. However, if your employer provides a child care benefit program, you cannot claim both the credit and the employer benefit. If your employer’s benefit equals or exceeds $6,000, you will not qualify for the additional deduction. Dr. Friday emphasizes the importance of understanding tax laws and encourages listeners to seek professional help if needed. Transcript: G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one minute moment. Child Dependent Care Credit. If your employer has a program where they allow you or they pay you so much money for that benefit, remember if you’re out paying money you cannot take both. You can take up to, so you can claim up to $3,000 in expenses for a single child. The maximum is $6,000 for two children and if you have four or five you still only get $6,000. And if your employer is giving you at least $6,000 in that care then you will not qualify for this additional deduction. Understanding your taxes is what I do. If you need help you need to call me 615-367-0819. You can catch the Dr. Friday Call-In Show live every Saturday afternoon from 2 to 3 right here on 99.7 WTN.

In this insightful episode of 'Dr. Friday Tax Tips - One Minute Moment,' Dr. Friday, President of Dr. Friday's Tax and Financial Firm, delves into the important aspects of the Child and Dependent Care Credit. She emphasizes that this credit is applicable for expenses incurred in daycare or childcare services for children under 13. A crucial point highlighted is that the credit is only available if childcare is needed due to work commitments of the parent or guardian. Dr. Friday clarifies that personal activities, such as getting nails done, do not qualify for this credit. She also explains the financial limits of the credit, with up to 35% of expenses covered or a maximum of $3,000 for one child and $6,000 for two or more dependents. Dr. Friday concludes by urging listeners to review their taxes to ensure they are taking advantage of this valuable credit. Transcript G'day, I'm Dr. Friday, President of Dr. Friday's Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment. Child and dependent care credit. A child and dependent care credit means that you're covering a percentage of daycare or some sort of child care for children under the age of 13. A parent or spouse whichever it might be unable to watch them because either they're working or they have some other type of work. It has to be work guys. It can't just be I want to go out and get my nails done and so I'm putting my child in daycare. It has to qualify as a work and then you will qualify up to 35% or $3,000 in expenses for two or more dependents $6,000 maximum. So if you haven't done this you need to check your taxes. You can catch the Dr. Friday call in show live every Saturday afternoon from 2-3 PM, right here on 99.7 WTN.

Enrollment for the new Dependent Care Flex Spending Account is now open until December 11th, 2023. According to the Office of Financial Readiness, the DCFSA is a pre-tax account used to pay for eligible dependent care services such as child or adult day care. If you have kids, you know childcare costs can break a family's budget and determine a military spouse's ability to work or go to school. Using the DCFSA to save for your childcare expenses can help, but how do you know it's right for you and how much money to save?  In this episode, Brandon Lovingier breaks down some of the math and planning you should do to decide if enrolling in the DCFSA is right for you.  We talk about: Factors to include in your decision-making What you should know about the Dependent Care Credit The role your income plays What divorced service members should think about Brandon, aka The Enlisted Money Guy™, has served over 18 years in the Army – including deployments to Iraq and Afghanistan. He established his blog, Enlisted Money, to help enlisted service members avoid the same mistakes he made and achieve financial freedom. He earned his Chartered Financial Consultant® designation in 2022 and is one of the first Military Qualified Financial Planner® designation holders. He's been a speaker at MilMoneyCon and loves mentoring other service members on their own financial freedom journey. The show notes can be found here: https://laceylangford.com/podcast/Deciding-to-Use-the-DCFSA

Episode 19:  In this episode, Timalyn explains a tax issue related to separated and/or divorced parents, as it relates to claiming a child for tax purposes.  This topic is confusing to parents, other tax professionals, and even some family law attorneys.  Remember, regardless of what the divorce decree states, this issue is governed by federal tax law.  They are completely different and guess which one has more authority? According to a Pew Research article, the US has the largest percentage of children living in single-parent households.  So, if this is your situation, you're not alone.  In fact, 23% of the people under 18 live with one parent.  As common as this situation is, the rules for which parents should claim the child on taxes are often misunderstood and handled incorrectly.  The IRS' Definition of Custodial Parent The definition used by the family court may not be the same as the IRS' definition.  The IRS considers the custodial parent to be the one the child lives with most nights.  This is the parent who gets to claim the child on his/her tax return. Based on the above definition, you may find it helpful to record the specific nights the child stays in your home.  It will be proof to help you substantiate your status as the custodial parent to the IRS.  IRS Tie-Breakers These exist in the event the child spends an equal number of nights with each parent.  Remember, federal law supersedes state law.  The IRS is federal law.  Your divorce decree is based on state law. Tie-Breaker #1:  Which Parent Has the Highest Adjusted Gross Income (AGI)? The AGI is explained in Timalyn's video, 15 Tax Terms Every Taxpayer Should Know.  It's actually listed on your tax return. Tie-Breaker #2:  The Parent with the Highest AGI, if Nobody Else Can Claim the Child as a Qualifying Child When the parents don't have custody of the child, this enables a grandparent or foster parent to claim the child. Tie-Breaker #3:  A Person with the AGI Higher than Either Parent, if the Parent Can Claim the Child as a Qualifying Child, but Does Not This comes into play when someone such as a great-grandparent or other individual has custody of the child.  If their AGI is higher than either parent and neither parent claims the child, the great-grandparent or other individual can claim the child.  While these rules exist, it doesn't necessarily prevent someone else (i.e. the other parent) from claiming the child on their taxes.  So, what can you do if this happens to you?  Timalyn will explain that in a few minutes. How Can a Non-Custodial Parent Still Claim the Child? If the divorce was cordial, it may be easier to accomplish this step.  The other alternative is to negotiate the completion of IRS Form 8332, as part of the divorce settlement, if applicable.  This is a Release or Revocation of Release of Claim to Exemption for Child by Custodial Parent.  Before the 2017 Tax Cut and Jobs Act, the child tax credit was expanded and the standard deduction was doubled, but the exemptions were eliminated.  Form 8332 enables a non-custodial parent to claim the child tax credit, the additional child tax credit, and possibly credits for other dependents and educational credits (i.e. the Lifetime Learning Tax Credit and the American Opportunity Tax Credit).  Form 8332 does not enable the non-custodial parent to claim Head of Household status, the Earned Income Credit, or the Dependent Care Credit. Keep the 8332 in Your Back Pocket You'll want to make sure you keep a copy of the completed IRS Form 8332.  It will help you to substantiate that you have the right to claim the child for specific years.  In the event the non-custodial parent is no longer able to claim the child, the custodial parent is to complete a new 8332 to revoke the authorization initially granted to the non-custodial parent.  You'll probably need to consult with your attorney to determine if the non-custodial parent has actually lost the right to claim the child. Until the IRS Form 8332 is complete, the IRS will use its Tie-Breaker Rules in making the determination, regardless of the divorce decree. What Can You Do if the other Parent or Individual Claims the Child without Authorization? There is another IRS form,  866-H-DEP available to deal with this situation.  Your tax filing for the year in question must be mailed in, not e-filed.  This form must accompany your tax filing.  It outlines which supporting documents you will need to prove you should be able to claim the child, not the other person.  You will need to provide Form 8332 if you have it as well as the cover and signature pages of your divorce decree.  Your normal tax documents will need to be submitted too.  You also need to send a copy of the above packet of information to your state agency.  The IRS will review your claim and the other e-filed return, which claimed your child.  They'll use the Tie-Breaker Rules first.  The IRS Form 8332 will help you to prove you had the right to claim the child for that particular year. If you're dealing with this type of situation, make sure you're working with a qualified tax professional with experience resolving this issue.  If you need help finding a tax professional, listen to Episode 16, How to Choose a Tax Professional.  If you aren't able to claim the child, you may have a resulting tax liability.  Timalyn encourages you to remember to breathe.  As she often says, “back taxes shouldn't ruin your life.”  If you've listened to this episode, you have the information and steps required to successfully claim the child.  It's time to take action. As we conclude Episode 19, we encourage you to connect with Timalyn on social media. You'll be able to subscribe to this podcast on Spotify, Apple Podcasts, Google Podcasts, and many other podcast platforms.     Remember, Timalyn Bowens is America's Favorite EA and she's here to fill the tax literacy gap, one taxpayer at a time.  Thanks for listening to today's episode. For more information about tax relief options, visit https://www.americasfavoriteea.com/ . If you have any feedback, or suggestions for an upcoming episode topic, please submit them here:  https://www.americasfavoriteea.com/contact.   Disclaimer:  This podcast is for informational and educational purposes only.  It provides a framework and possible solutions for solving your tax problems, but it is not legally binding.  Please consult your tax professional regarding your specific tax situation.  

Are you paying for child care or care for a dependent? The Child and Dependent Care Credit is changing for tax year 2022. Learn what that could mean for your tax return in this episode of TurboTax Tips.

Handing your W2's and 1099's to your preparer might be the extent of your participation when it comes to income taxes. Having a general understanding of how taxes work can give you a new perspective on just how much of a share is owed to Uncle Sam. Join Matt Robison and I this week as we discuss the basics of taxes. Get a crash course on: Income: Wages (W2 or other), interest income capital gains and qualified dividends  Adjusted Gross Income (AGI): Wages - above-the-line deductions What are above-the-line deductions?: Contributions from HSA, contributions to traditional IRA, student loan interest (unless your income is too high), self-Employment costs (such as health insurance, retirement plan contributions, 50% of self-employment taxes), alimony, and certain education expenses  3. Taxable Income = AGI - standard or itemized deductions Standard deduction ($12,950 Single, $25,900 Married, Filing Jointly (MFJ) Itemized Deductions: State, Local, Other Taxes Mortgage and Investment Interest Expense Charitable Giving Medical Expenses (above a limit) More…. 4. Total Tax = Taxes on Taxable Income Taxes: Income tax, capital gains tax, AMT, NIIT, Medicare Surcharge, etc 5. Payment or Refund: Total Tax - Credits - Taxes Paid Credits: Child Care Credit, Dependent Care Credit, Lifetime Learning Credit, etc Taxes Paid: From your paycheck or estimated tax payments Well, that's as simple as I can make it in just 5 steps! AGI (step 2) is very important because that number gives you your tax bracket. But did you know that we have marginal tax brackets?  If you're like a lot of people, you probably think marginal means that if you are MFJ and your AGI is $150,000, https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2022 (you owe 22% in Federal Income Taxes), ($33,000) right? WRONG!  The “marginal” means that for the first $20,550, you owe 10% in taxes. [$2,055] You then owe 12% on the next $63,000 (the next tax bracket) [$7,560] Then, 22% on the next $66,450 (the bracket you are in) [$14,619] That's a total of: $2,055+$7,560+$14,619 = $24,234. Not $30,000 ! It means a difference of almost $6,000 in your favor So now you have your tax bill. Using the same example as above, you owe $24,234 in federal taxes. This is your total tax. Now come the credits (hopefully!). Credits differ from deductions in one major way, they are dollar for dollar. Deductions reduce your total tax bill by reducing your Taxable Income. Credits, on the other hand, come straight off your total tax bill. Some credits include the Child Tax Credit, Child & Dependent Care Credit, or the Lifetime Learning or American Opportunity Credit. Obviously credits are the way to go! Once you've deducted your credits, you then subtract any payments you've already made (withholdings or direct payments) and this will determine what you owe or are owed in the form of a refund.  Learn more about Mike and my services athttps://www.mortonfinancialadvice.com/ ( https://www.mortonfinancialadvice.com) and connect athttps://www.linkedin.com/in/mwsmorton/ ( https://www.linkedin.com/in/mwsmorton/) https://www.meetmikemorton.com/ (Are you ready to create your ideal lifestyle? Let's Connect.)

Today we will be doing an overview of various #TaxCredits on this #taxtiptuesday. We are reviewing the Child Tax Credit, Recovery Rebate Credit, Earned Income Tax Credit, Lifetime Learning Credit, American Opportunity Credit, Child and Dependent Care Credit, Saver's Credit, and Adoption Tax Credit. --- Support this podcast: https://anchor.fm/bettehochbergercpa/support

Inflation is on the rise, so you have to look for new ways to save money if you want to stay on budget. We'll share some ideas to help you do that today on MoneyWise. Let's start with an idea for working parents. Have you taken advantage of the Child and Dependent Care Credit? You have to earn less than $125,000 adjusted gross income, but the credit could reimburse you for up to 50% of qualifying expenses - or as much as $16,000 if you have two or more dependents. Just fill out Form 2441 for Child and Dependent Care Expenses and include it when you file your tax return. This credit is only good for the 2021 tax year. Here's another money saving idea: Use cash to buy gasoline. Prices at the pump have skyrocketed recently, so saving even a few pennies per gallon at the pump can add up. The National Association of Convenience Stores says that 75% of us use a credit or debit card to buy gas. But many places will give you a break for paying with cash. In some locations you could save up to 10 to 15 cents a gallon. And speaking of cash use cash for all of your spending outside the house. Studies show you can save from 10 to 30% at the register when using cash only. That's because it's more difficult to part with real dollars than using plastic. Here's another idea: Set aside one day a week when you don't spend money. Bring leftovers to work instead of eating lunch out. Don't buy coffee at a convenience store that day. And stay offline so you won't be tempted to buy something on impulse. It'll still be there tomorrow if you really need it. And when you do browse online, use a private or incognito browser. This can save you money because it doesn't save your browsing history. The result is that companies can't see what you've been looking for and then raise the price on you. And yes, sadly, it happens. If you're buying a major appliance, ask the sales rep a simple question, Is that the best you can do? Our friend Dave Ramsey advises to always ask for a discount. You may not get it, but it doesn't cost anything to ask. You can also ask for a discount if you're paying with cash for a big ticket item. And if the item is on backorder, which many are these days due to interruptions in the supply pipeline. Ask for a discount for having to wait. Again, it never hurts to ask. If you see an item online for a certain price, but a local retailer has it in stock at a higher price, ask if they'll match the lower one. Have the online offer on your smartphone ready to show the sales rep. Many stores have a policy that they will match a lower, bona fide offer. You can also implement the 30-day rule for anything costing over $100. If you see something you wantnot need, but want wait 30 days before purchasing it. If you find that after that time you still want it, go ahead and buy it. Another way to save is by actually doing it on payday. There's a tendency to spend freely on payday and later realizing you haven't saved anything. Instead, put something into savings before you spend anything. That way you'll know how much you really have in disposable income. An even better idea is to make your savings automatic. Have your bank automatically put some of your paycheck into savings. Out of sight, out of mind. You can also sign up for paperless billing and auto pay with service providers like ATT and Xfinity and some utilities. Many offer discounts on your monthly bill for signing up. It also makes it easy to manage your account with your smartphone. Here's another idea: Start your Christmas shopping now. Start by making a list of everyone you'll give a gift to at Christmas. Then set your total budget for gifts. There's always a lot of hype about sales during the holiday shopping season, but if you give yourself months and months to find an item, odds are you'll beat any price you're likely to find during the Christmas crunch. LISTENER QUESTIONS On today's program, Rob also answers listener questions: ●What can you invest in after maxing out a 401k and Roth IRA? ●Is it best to use a lump sum to pay down a mortgage? ●How do you determine if your 401k investments are diversified properly? RESOURCES MENTIONED ●Find a Certified Kingdom Advisor Remember, you can call in to ask your questions most days at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app. Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking theDonate tab on our websiteor in our app. To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

This is HUGE!!!! Don't miss out on this REFUNDABLE Credit you may qualify for... --- Support this podcast: https://anchor.fm/latoya-l-wallace/support

Two tax credits got a facelift for 2022 and are now significantly more beneficial to families, only if you're eligible. In this episode of The Wise Money Show, we're going to explain the important changes to these tax credits, the Child Tax Credit and the Child and Dependent Care Credit, and share options on how you can maximize their benefit to you. Season 7 Episode 16 Have a question for the show? Call or text 574-222-2000 or leave a comment! Want to speak with a Certified Financial Planner™? Visit www.korhorn.com or call 574-247-5898.   Find more information about the Wise Money Show™ at www.wisemoneyshow.com  Be sure to stay up to date by following us!  Facebook - https://www.facebook.com/WiseMoneyShow  Twitter - https://twitter.com/WiseMoneyShow  Instagram - https://www.instagram.com/wisemoneyshow/  Want more Wise Money™?  Read our blog! https://www.korhorn.com/wise-money-blog  Watch the guys in the studio: https://youtu.be/1su_KL_dXbU  Subscribe on YouTube: http://www.youtube.com/c/WiseMoneyShow Kevin Korhorn, CFP® offers securities through Silver Oak Securities, Inc., Member FINRA/SIPC.  Kevin offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. KFG Wealth Management, LLC dba Korhorn Financial Group and Silver Oak Securities, Inc. are not affiliated. Mike Bernard, CFP® and Joshua Gregory, CFP® offer advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results.

On this episode of the Planned Solutions Incorporated Podcast, The US inflation rate has been hovering around 5% for several months this year. This has created some financial strain for some households. However, with some planning, there are some small steps that consumers can take to reduce their personal inflation rate to a level that is more in line with the long-term average, rather than today's elevated level. Also, The Build Back Better tax and spending bill has been under negotiations in the House and Senate for the past several weeks. In the process the bill has changed significantly including the total price tag decreasing from $3 trillion to an estimated $1.75 trillion as several spending proposals were dropped. Many tax provisions included in the original draft of the bill have also been dropped. And, The child and dependent care tax credit was expanded for 2021. The American Rescue Plan Act increased both the amount of child and dependent care expenses that qualify for the credit and the percentage of those expenses that may be claimed as a tax credit. This increased the previous maximum amount of the tax credit from $600 for one child and $1,200 for two children to $4,000 for one child and $8,000 for two children. With such a large amount at stake, it is important to understand the rules related to this credit. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- Our office has been a construction zone recently. Part of this was planned and part of it was unplanned. The planned portion includes a renovation of the lobby and bathroom facilities in our building which continues, but we hope will be completed soon Chase Armer's book- Financial Planning Insights is now available at: store.bookbaby.com/book/financial-…anning-insights www.amazon.com/Financial-Plannin…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc. ADDRESS: PHONE: 1130 Iron Point Road, Suite 170 (916) 361-0100 Folsom, CA 95630 (800) 750-2111 E-MAIL: FAX: Shannon@PlannedSolutions.com (916) 361-0191 WEB SITE: www.PlannedSolutions.com #finance #invest #investment #stocks #inflation #deflation #bonds

Josh Jalinski, The Financial Quarterback is joined by Jeff Schnepper, a tax expert and author of several books on finance and taxation, including How to Pay Zero Estate Taxes and all twenty-eight previous editions of How to Pay Zero Taxes. He's also Microsoft's MSN MONEY tax expert, Chief Legal Counsel for Estate Planning of Delaware Valley, Inc., an economics editor for USA Today and is tax counsel for Haran, Watson & Company. In this segment, Jeff breaks down how the child care tax credit works with earned income. Listen to the Financial Quarterback live every Sat/Sun 9am EST on WOR AM710. Follow Josh on Facebook, Twitter and YouTube. Visit Jalinski.org for more information, and pick up his latest book, Retirement Reality Check now.

This episode is also available as a blog post: https://paylesstax.com/2021/05/29/tax-tip-spotify-podcast-and-or-wordpress-blog-post-and-the-child-and-dependent-care-credit/ --- Send in a voice message: https://anchor.fm/don-fitch/message

March 25, 2021 - Child and Dependent Care Credit

With the expansion of the Child and Dependent Care Credit for 2021, Jeff explains what expenses count for this credit, who is eligible, and how this credit is calculated. In these lively interviews, Jeff Dvoracheck, CPA, breaks down complex tax topics into bite-size how-to's. Hawkins Ash CPAs is a full-service public accounting firm providing individuals, businesses and organizations the services they need to save taxes, preserve wealth and maintain compliance. We have offices in Wisconsin and Minnesota. Learn more at HawkinsAshCPAs.com.

Ways to Increase Your Tax Refund You Never Thought About: Include the dependent care credit (Part 4)

Some Ideas For Tax Deductions/ Write-Offs (Consult Your Tax Advisor) 1. Earned income tax credit Lifetime learning credit American Opportunity Tax Credit Child and Dependent Care Credit  Saver’s Credit Child Tax Credit Adoption Tax Credit Medical and Dental Expenses Residential Energy Credit Student Loan Interest Deduction Health Savings Account Contribution Charitable Contribution Deductions Don’t forget […]

Some Ideas For Tax Deductions/ Write-Offs (Consult Your Tax Advisor) 1. Earned income tax credit Lifetime learning credit American Opportunity Tax Credit Child and Dependent Care Credit  Saver’s Credit Child Tax Credit Adoption Tax Credit Medical and Dental Expenses Residential Energy Credit Student Loan Interest Deduction Health Savings Account Contribution Charitable Contribution Deductions Don’t forget […]

September 17, 2020 - Child and Dependent Care Credit

As the cost of childcare continues to increase, more and more parents and guardians are looking for ways to reduce this cost. This credit can help. Learn more about who is eligible, what expenses do and do not count, and how families can decide the best option for them.

September 17, 2020 - Child and Dependent Care Credit

Do you pay for the care of a child or adult while on the job? If so, you may be eligible for a tax credit that puts that money back in your pocket. In part 4 of our series “Ways to Increase Your Tax Refund You Never Thought About”, learn about the child and dependent care credit – and see if you qualify!

As the cost of day care continues to increase, did you know that there is an IRS credit that may be able to offset some of the expense? It’s called the Child and Dependent Care Credit. Learn more in this podcast episode.

July 11, 2019 - Child and Dependent Care Credit

http://blog.turbotax.intuit.com Got a few dependents to claim (and a few more questions) on your taxes? Dependent tax deductions and tax credits are a great advantage and money saver! Read more about the Child and Dependent Care tax credit and other tax benefits of claiming your children as dependents on the TurboTax Blog and we’ll help you get it all right.

Claiming Childcare Tax Credits - Are you a parent who pays for child care? Then you could qualify for as much as 35% of your child care expenses up to $3,000 for one dependent and up to $6,000 of expenses for two or more. Learn how you may qualify for the Child and Dependent Care Credit by watching this informative TurboTax tax tip video.