If you incur daycare expenses for children or other dependents, you may qualify for a tax credit. The Child and Dependent Care Credit is available for expenses that allow you or your spouse to work or actively seek work. If eligible, you may be able to claim up to 35% of your expenses. The credit can’t exceed $3,000 for one qualifying person, or $6,000 for two or more persons, and a percentage applies based on your income. Suppose you pay your mother to watch your children during the day. Does that count towards a credit? Yes, if your mother isn’t your dependent. You can also pay other relatives to watch your kids, but conditions apply. Here are the details: https://bit.ly/4ft1Kg4 Contact the Cg Team with questions.© 2024
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