Do You Qualify For Child Care Tax Credit Or Dependent Care Credit?
If you have children or a dependent that you pay someone else to care for while you look for work or while you work, you probably qualify for this tax relief. This child and dependent care tax credit may result in a bigger tax refund!
How can I qualify for this tax credit?
Your child must be less than 13 years old. You must be paying someone else to care for them, this cannot be a spouse or a child of your own under 19 years of age. The person you pay must not be a dependent of yours. An after school or latch-key program may qualify, but regular school expenses are not allowed.
If you are caring for a spouse, or dependent person who cannot care for themselves, they can be any age. For instance, if you care for a disabled parent, or mentally or physically challenged child, they can qualify as long as they live with you for more than six months. You can claim up to 35% of their care expenses, up to $3,000 for one person or $6,000 for two or more.
You can apply for this child or dependent care credit if you are employed and file as a single, head of household, or married filing jointly. If you receive dependent or child care benefits form your employer, this amount will be figured into the formula.
Why wouldn't I apply for this credit?
There is no reason that I can think of, as long as your qualify. You should take advantage of the child care tax credit or dependent care credit. Why not take every legal advantage when you file your income tax. You may qualify for a tax refund, and this credit can help. If you are a parent or caring for a dependent person you deserve this tax break!
Related Tags: care, credit, child, tax, dependent
It's easy to Prepare Your Taxes Online. Learn how get all the tax deductions and credits you deserve! You can use the Free Tax Estimator provided by Turbo Tax Online to prepare and file your taxes this year.Your Article Search Directory : Find in Articles
Recent articles in this category:
- Guide To Finding The Right Irs Debt Help Solution For Your Situation
Finding the right IRS debt help for your situation is crucial. Where you turn for assistance will de
- The Basic Function Of Accounting
Accounting is a profession as old as the hills. It was a well known practice in the Roman, Ancient E
- The Fundamental Concepts Of Accounting
The Federal Election was held in Australia on 21st of August 2010. During the rather boring election
- Higher Earners Warned Over Tax Relief
Those that fall into the higher earners bracket have been warned that the government may impose furt
- Procter & Gamble Wins R&d Credit Case Against The Irs
On June 25, 2010, the U.S. District Court in Procter & Gamble Co. and Subsidiaries (P&G) v. United S
- 3 Ways To Settle Irs Tax Debt For Less
You can settle IRS tax debt for less if you know your options. There are several ways that you can s
- Five Steps To Finding The Best Tax Lead Company For Your Business
The lead buying business has become an efficient and proven form of outsourcing marketing efforts to
- Truly Effective International Tax Advice
A big concern for the public and corporate business units is to deal with the international tax at t
- How To Avoid Making The Common Tax And Bookkeeping Mistakes?
Even though who consider themselves in the financial loop may fall prey to some of the most common t
- How To Appeal Your Property Tax Bill
The responsible homeowner will want to do a thorough check of their property tax bill to ensure they
Most viewed articles in this category:
- New Tax Rules for the Poor
New tax rules for 2007 will bring about a good year for the poorest of tax-filers in Maryland. Tax-f
- The Best LEGAL Tax Shelter in the World-- Your Home-Based Business!
Welcome to the best legal tax shelter in the world-- you home-based business! As long as you keep go
- IRS Alert: Tax Payers Need to be on the Look out for Fraud
Tax-Definition.org (http://www.tax-definition.org) is reporting on the second part of the tax
- Income Tax Questions Answered Because of Radio - The World Is a Client of "Better Business"
Having hosted a financial radio program over several years has exposed me to many questions. Some of
- IRS Is Focusing on Schedule C Filers
In the last few tax years IRS has been paying more attention to taxpayers who file a schedule C. The
- 2007 Brings Tax Relief for N.Y. Residents
As of January 1, 2007, New York residents have been benefiting from a decrease in hospital bills, an
- Lost Last Year's Tax Return?
It happens every year. Just when you get motivated to get rolling on your taxes, you realize you can
- Figuring Out Your Tax Return Filing Status
When you are ready to plop down and start preparing that tax return, one of the first questions is y
- Deductions Missed In Taxes
The deductions which are often missed by tax payers are as follows: Old points on refinancing: The
- Estate Taxes
Federal estate tax applies to the transfer of property at death. The estate of a person who died is