Tag Archives: Child Care Credit

How Children Can Affect Taxes

Are you a parent? It’s important to understand how support you provide to your children can alter your tax liability, and which types of support you can get credit for. Child Credit For each child under the age of 17 that you claim on your tax return, your taxable income is reduced by $1,000. The […]

If you are a single parent you know you can face some only one of its kind situations in life, this can include things that come up at tax time as well. Before you file your taxes, you should check out these federal tax considerations: Head of Household – If you were single on the […]

Claiming the Child Care Tax Credit

If you pay for childcare and are employed you may qualify for the Child Care Credit. If you have paid for someone else to take care of your child or dependent this past year you may qualify to claim a Child Care Tax Credit on your Federal Income Tax Return. What you need to ask, […]

Child and Dependent Care Credit

You may be eligible for a tax credit if you are responsible for expenses related to the care of a child under the age of 13, or a dependent or spouse who is mentally or physically unable to care for themselves. This tax credit is for any costs you incur in relation to their care […]

Tax Credits for Parents

If you have children, you may be entitled to beneficial tax credits. There are a few credits that are specifically targeted towards parents, and can be extremely helpful when it comes to saving money or offsetting the costs of raising children. In most scenarios, you can claim your child as a dependent, including children just […]

Five Credits You Shouldn’t Overlook

Not too many things can make you happy when it comes time to pay your taxes. The tax credit can be your friend and ally during tax season, so it’s important to get informed about which credits you may qualify for. Tax credits reduce the amount of tax you are responsible for paying, and some […]

If you’re a parent and you have to work, there a pretty good chance you have to pay for the care of your child during working hours. This can get pretty expensive, but thankfully there is a tax credit that can help offset the cost of childcare services. The Child and Dependent Care Credit is […]

Depending on Claiming Dependents?

To get a little extra cash back this tax season, consider the benefits you may be eligible for by claiming children or adult relatives as dependents. For each dependent you claim that qualifies, you get a personal exemption, and depending on the age and relationship of the dependent, you may be eligible for additional tax […]

Child and Dependent Care Credit

Hiring a professional to care for a disabled adult, or having to pay for childcare services for children under 13 can be costly.  Luckily, the government has a tax credit which can help reduce these costs and put more money back into your pocket. The Child and Dependent Care Credit can put up to 35% […]

Child Care Tax Credit

Child care can be expensive, and many parents have to arrange care around their work schedule or school breaks. When children are out of school during the summer, child care expenses can begin to add up. The federal government is stepping in to help by offering a tax credit for child care expenses for any […]