Monday, March 30, 2009

Tax Time: Facts About The Child Care Tax Credit

As tax day approaches, you may be looking for ways to maximize your tax deductions. If your children attended daycare or you hired a babysitter, you may be able to reduce your taxes this year by claiming the credit for child and dependent care expenses.  The expenses you paid must be for the care of one or more qualified children under the age of 13 and both you and your spouse must have earned an income (unless one spouse was a full-time student or was physically or mentally incapable of self-care).

Read the top ten tips about this tax credit at Strollerderby's blog or visit the IRS Website for more detailed information.  

Photo by Phillip.

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