Tag Archives: dependent care credit

The tax code has a credit for dependent-care expenses for children under age 13 when the care was provided, and it also can apply to expenses for others of any age who are incapable of caring for themselves—such as an elderly relative. In most years—including 2022—many filers get a credit for 20% of up to […]

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The name of the credit is Child and Dependent Care Credit. The amount of your work-related expenses you can use to determine your credit is a dollar cap. For one qualified person, the cap is $3,000, or $6,000 for two or more qualified individuals. If you have paid work related expenses for caring for two […]

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Supporting your Parents

December 20, 2018

If you support your parents financially, the federal government wants to help. At tax time, there are a number of different tax assistance options available to parental care providers. The tax season 2018 brings a new dependency tax credit and the ability to claim a dependent from a parent. You may therefore be able to […]

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Many taxpayers need some extra help in dealing with their dependents. Those who take care of their disabled relatives or childcare for their children under 13 so that they can work may be eligible to reimburse their child and dependent care expenses. This tax credit amounts to up to 35 percent of the qualifying expenses […]

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This year, don’t forget to take advantage of tax credits and benefits that can save your family money. The following credits are important to taxpayers and their families: Child Tax Credit: is worth up to $1,000 per child, depending on income. The higher your annual income, the smaller the credit. Married taxpayers who file jointly […]

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Have you had to pay for someone to take care of your dependents while you worked? If so, you may be able to claim a special tax credit to help offset some of the costs. This credit, the Child and Dependent Care Tax Credit, has certain requirements that taxpayers must meet. These include: You must […]

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Expenses For Child Care

March 31, 2016

Are you responsible for paying expenses relating to the care of your child? If so you may be eligible for tax credit that can save you money on these expenses. There are some requirements in order to qualify for this credit. For example, the child must be under the age of 13, but the credit […]

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