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CPAsNET Firm Of The Month

July 2015

Day camps are common during the summer months. Many parents pay for them for their children while they work or look for work. If this applies to you, your costs may qualify for a federal tax credit that can lower your taxes. Here are the top ten tips to know about the Child and Dependent Care Credit:

Care for Qualifying Persons. Your expenses must be for the care of one or more qualifying persons. Your dependent child or children under age 13 usually qualify. For more about this rule see Publication 503, Child and Dependent Care Expenses.

CPAsNET.com
P.O. Box 7648 solutions@cpasnet.com phone: 609-890-0800
Princeton, NJ 08543 July 4, 2015 fax: 609-689-9720