Dependent Care Credit

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Dictionary Says

Definition of 'Dependent Care Credit'

A nonrefundable tax credit offered to taxpayers who pay out-of-pocket expenses for child care. The dependent care credit is intended to aid lower income working taxpayers with the cost of child care. One of the main criteria to qualify for the credit is that the care must have been provided to a qualifying child under the age of 13.
Investopedia Says

Investopedia explains 'Dependent Care Credit'

The dependent care credit is claimed on Form 2441. There are several criteria that must be met in order to qualify for the credit, including income threshold and qualifying child guidelines. For more information on this credit, see IRS Publication 503.
Search results for

'Dependent Care Credit'

  • How To Claim A Dependent On Your Tax Return

    http://www.investopedia.com/articles/tax/09/claim-a-dependent.asp
    ... liability. Dependents can also be used to gain tax benefits like the child and
    dependent care credit and head of household filing status. ...

  • Benefits Of A Dependent Care Flexible Spending Account

    http://www.investopedia.com/articles/pf/09/dependent-care-fsa.asp
    ... expenses. Before setting up a dependent care FSA, compare its potential tax
    benefits with the child and dependent care tax credit. FSAs ...

  • 5 Ways To Save On Child Care Costs

    http://www.investopedia.com/articles/pf/09/daycare-saving-tips.asp
    ... already taking advantage of your employer's flexible spending account, you can't
    claim the same expenses for the FSA and for the child and dependent care credit ...

  • Give Your Taxes Some Credit

    http://www.investopedia.com/articles/tax/08/tax-credit.asp
    ... Families.); Dependent Care Credit - This credit helps taxpayers defray the costs
    of paying for childcare services, as long as certain conditions are met. ...

  • How can I use a child tax credit?

    http://www.investopedia.com/ask/answers/07/taxtipchild.asp
    ... It can be claimed on 1040 and 1040A. It is in addition to the credit for child
    and dependent care expenses, and the earned income credit. ...

  • New Baby, New Tax Break - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/0110/New-Baby-New-Tax-Break.aspx
    ... As long as the child is your dependent, you can receive this credit every year ... be
    pricey, but the IRS offers some relief in the form of a child care credit. ...

  • Budgeting For A New Baby

    http://www.investopedia.com/articles/pf/08/budgeting-for-baby.asp
    ... caregivers. (If you are eligible, some costs might be offset by various
    tax credits, such as the child and dependent care credit. ...

  • Taxing Times For Divorced Parents

    http://www.investopedia.com/articles/pf/08/dependent-tax-credits.asp
    ... the parent that can claim the dependency exemptions will also receive the corresponding
    tax credits, such as the child and dependent care tax credit and earned ...

  • Keep Working Or Stay At Home With The Kids?

    http://www.investopedia.com/articles/pf/07/cut_an_income.asp
    ... Childcare Tax Benefits Flexible spending (dependent-care) accounts offered by many
    employers ... Even without such accounts, the federal child-care credit can save ...

  • Happily Married? File Taxes Separately!

    http://www.investopedia.com/articles/tax/08/file-seperately.asp
    ... who file jointly, such as: Earned income credit; Child tax credit; Child
    and dependent care credit; Student loan interest deduction; ...

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