Did you know that the Child and Dependent Care Tax Credit can help to offset the cost of your child’s day camp this summer? Along with the lazy, hazy days of summer come some extra expenses, including summer day camp. But, the IRS has some good news for parents: those added expenses may help you qualify for a tax credit.
Summer day camp is considered a childcare expense; however, overnight camps, summer school and tutoring do not qualify. Here is what you need to know about the tax credit available for child care expenses. The Child and Dependent Care Credit is available for expenses incurred during the summer and throughout the rest of the year.
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