childcare expenses
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Is Childcare Tax-Deductible?
Asked by A.D. from Dallas
on October 10, 2006
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I was talking to my cousin today and she mentioned that in certain instances, childcare expenses are tax-deductible -- and the level will actually differ with the numb...
Answers
- Does anyone know if a facility a actual Day school, has to provide tax reciepts, my DD was at a home care timm a couple on months ago and the lady always gave us a re...
- I am a childcare provider and my parents deduct me every year. hope this helps.
- Every year the deduction I get from childcare is a huge blessing. There is a cap on how much you can deduct. I receive a letter from my daycare every year that shows...
Learnings Options
Asked by D.T. from Washington DC
on August 1, 2009
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I am a working mother with three kids. I dont make a lot of moeny but I do the best I can in these hard finacial times. I recently moved to New Town from another Bal...
Answers
- Here's my opinion, but keep in mind I'm biased.. :) See if you and your husband can work your schedules so someone is always home with the kids. If you can do that,...
- We are in the same boat. Because we live in an "economically disadvantaged" area, all of the preschool seats are filled with kids "more needy" than ours. While in ot...
- My husband and I both work full time 7 days a week, EVERY WEEK, no vacation... EVER (except, christmas day, thanksgiving and easter day). We have four children 6,4,2 a...
Seeking Info/advice on Flexible Spending Acct. for Childcare Expenses
Asked by K.O. from Dallas
on November 12, 2007
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Hello,
Since I just started back to work recently and we have our little one in daycare, my husband and I are contemplating enrolling in the Flexible Spending Acct....
Answers
- If you spend a lot on childcare then the FSA will probably be better than using the tax credit. The way you can figure out how much you'll save is by crunching the nu...
- I guess it depends how much you spend on childcare. I max out our flexible spending account (which is $5000, I think) and that is money that is not taxed. On my fede...
- Hi K., I asked our tax guy the same question! It's the same as claiming it on your taxes at the end of the year. Of course, it may be different if you're in a diffe...
Childcare Expenses and Taxes
Asked by N.K. from Chicago
on August 11, 2007
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When I return to work this fall (I'm a teacher) my 6 month old son will be staying in our home with a babysitter. I "assumed" that the money we will be paying the baby...
Answers
- N., My husband is a teacher and I am starting up my own in-house daycare as we speak. I know that the money is tax deductible, yes! You have to keep track of what you...
- I'm a teacher and we are able to do the childcare/flex spending option in our district.
- With having a nanny in your home, it IS typically a lot more costly and complicated (besides his being able to stay at home daily :) ) than taking him to a center or ...
