Tax credit can benefit working parents - KCBD NewsChannel 11 Lubbock

6/30/10

Tax credit can benefit working parents

DALLAS – Many working parents must arrange for care of their younger children under 13 years of age during the school vacation period. A popular solution — with favorable tax consequences — is a day camp program. 

"Unlike overnight camps, the cost of day camp could count as an expense regarding the Child and Dependent Care Credit," said Clay Sanford, a Dallas-based spokesman for the Internal Revenue Service.  "The cost of sending your child to a day camp may be a work-related expense, even if the camp specializes in a particular activity, such as computers or soccer." 

Otherwise, if your childcare provider is a sitter at your home or theirs, you'll generally get some tax benefit if you qualify for the credit. Also, if you paid someone to care for your child so that you (or your spouse if you are married) could  look for work, you may be able to claim the credit.  The Child and Dependent Care Credit can be up to 35% of eligible expenses, depending on adjusted gross income. 

For more information, see IRS Publication 503, Child and Dependent Care Expenses, available at www.irs.gov or by calling 1-800-TAX-FORM.

Source: IRS

  • Local News on KCBD.comNewsMore>>

  • Texas gang member executed for killing girl, grandmother

    Texas gang member executed for killing girl, grandmother

    Wednesday, April 25 2018 12:55 AM EDT2018-04-25 04:55:40 GMT
    Thursday, April 26 2018 1:23 AM EDT2018-04-26 05:23:56 GMT
    (Texas Department of Criminal Justice via AP). This undated photo provided by the Texas Department of Criminal Justice shows Erick Davila. Attorneys for the Texas death row inmate want the U.S. Supreme Court to halt his scheduled execution this week fo...(Texas Department of Criminal Justice via AP). This undated photo provided by the Texas Department of Criminal Justice shows Erick Davila. Attorneys for the Texas death row inmate want the U.S. Supreme Court to halt his scheduled execution this week fo...
    Attorneys for a condemned Texas prisoner are asking the US Supreme Court to halt his execution for killing a young girl and her grandmother in 2008.
    Attorneys for a condemned Texas prisoner are asking the US Supreme Court to halt his execution for killing a young girl and her grandmother in 2008.
  • Macron resists Trump's 'America first' in speech to Congress

    Macron resists Trump's 'America first' in speech to Congress

    Wednesday, April 25 2018 11:30 AM EDT2018-04-25 15:30:41 GMT
    Thursday, April 26 2018 1:22 AM EDT2018-04-26 05:22:26 GMT
    (AP Photo/Pablo Martinez Monsivais). French President Emmanuel Macron gestures as he is introduced before speaking to a joint meeting of Congress on Capitol Hill in Washington, Wednesday, April 25, 2018.(AP Photo/Pablo Martinez Monsivais). French President Emmanuel Macron gestures as he is introduced before speaking to a joint meeting of Congress on Capitol Hill in Washington, Wednesday, April 25, 2018.
    French President Emmanuel Macron extolled the "special bond" between the United States and France during his speech in front of a joint meeting of Congress.
    French President Emmanuel Macron extolled the "special bond" between the United States and France during his speech in front of a joint meeting of Congress.
  • Trump lawyer says he'll plead the Fifth in porn actress case

    Trump lawyer says he'll plead the Fifth in porn actress case

    Wednesday, April 25 2018 7:08 PM EDT2018-04-25 23:08:55 GMT
    Thursday, April 26 2018 1:22 AM EDT2018-04-26 05:22:14 GMT
    Michael Cohen appears in front of members of the media after a closed door meeting with the Senate Intelligence Committee last year. (Source: AP Photo/Andrew Harnik)Michael Cohen appears in front of members of the media after a closed door meeting with the Senate Intelligence Committee last year. (Source: AP Photo/Andrew Harnik)

    President Donald Trump's personal attorney says he'll exercise his constitutional right against self-incrimination in a lawsuit brought by a porn actress who said she had an affair with Trump.

    President Donald Trump's personal attorney says he'll exercise his constitutional right against self-incrimination in a lawsuit brought by a porn actress who said she had an affair with Trump.

Powered by Frankly