Did you even know that you could take your summer child care expenses off of your IRS taxes? If you are a working parent or even one who is looking for work, keep those receipts for any of the day care or summer camps your children participated in.
- Summer day camp costs can count as an expense towards the child and dependent care credit.
- Be careful though, overnight camps are disqualified.
- Who is your child care provider? Is he or she also a sitter at your home or a day care facility outside of your home, you'll get some tax benefit if you qualify.
- The actual credit can by up to 35 percent of you qualifying expenses, depending on your income.
- You may use up to $3,000 of the expenses paid in a year for one child or up to $6,000 for two or more qualifying individuals when you figure the credit.
Help In Figuring Your Child Credit on Taxes