What is the child care tax credit?

The child care tax credit allows you to receive a federal credit of up to 35 percent of the amount of money you spend per year on child care. The same tax credit also covers your expenses if you pay for the care of a disabled adult dependent.

In order to qualify for the child care tax credit, your dependent child has to be 12 years of age or younger. In addition to your child care provider meeting certain qualifications, there are other criteria you have to meet to be able to get the tax credit.

  • You have to have earned income during the year.
  • The care provided has to be in place to allow you to work, or to look for work.
  • If your employer offers child care benefits, the amount of your federal tax credit is impacted.

Find out more about the child care tax credit by contacting a tax specialist today.

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