Tax Tips 2017: Child and Dependent Care Credit

Child and Dependent Care Credit

Looking for someone to watch your children can be difficult while you are working or looking for work. That is why the IRS has a tax credit that may help cut your tax bill quicker than a simple deduction. This credit applies also for those who live with an elderly parent or disabled spouse whose care must be paid for while you work.

If you entered your child into a summer day-camp in order for you to be able to work, then the costs can be claimed for the credit. The credit limit for one qualifying individual is $3,000 and for two or more qualifying individuals it is $6,000.

If you want to know if you qualify for these deductions, give us a call at (714)-533-2600 to schedule a FREE consultation to make sure you are maximizing your deductions.