If you pay for daycare, you may be eligible to claim up to 35% of what you spend.... Here's how.
Paying for day care and in some cases adult dependent care can add up. The child and dependent care credit can help with that.
To qualify, you must have one of the following:
-Your dependent is under the age of 13 when you receive child care
-You spouse is either physically or mentally unable to care for themselves, and has lived with you for more than six months out of the year
-Someone has lived with you for at least six months out of the year who is physically or mentally unable to care for themselves and is either a. your dependent or b. they would have been your dependent except they either received an income of $4,200 or more or filed a joint return.
If you do qualify, you can claim up to 35% of what you have spent on child or adult care over the tax year.
For more information about this credit, you can visit the IRS website by clicking here.
Sense of humor...
Information obtained from the IRS.gov website.
