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Tax Deduction Consulting: Bad Debts Hayden ID

If you paid someone to care for a child so you could work, you may be able claim a tax credit for child and dependent care expenses on your federal income tax return.

Brian Burks, MBA
5660 East Franklin Rd. Suite #130
Nampa, ID
Company
Title: Managing Partner
Company: Burks Wealth Management
Type
Investment Advisor Rep: Yes
Registered Investor: Yes
Education
U of Idaho/B.S. - Marketing
Boise State University - MBA
Years Experience
Years Experience: 15
Service
Life Settlements,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Annuities,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Hourly Financial Planning Engagements,401k Rollover From Employer,Income for Life/ Preserve Principal,Life Insurance,Investment & Portfolio Management,Commission-Only Financial Planning (Full Disclosure),Insurance & Risk Management Planning,Retirement Income Accumulation Planning,Individual Income

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Comprehensive Tax Svc Inc
(208) 322-4649
600 N Curtis Rd Ste 210
Boise, ID

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Liberty Tax Service
(866) 871-1040
25 S 16th St
Payette, ID

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Ada Tax Professionals
(208) 377-4303
9140 Ustick Rd
Boise, ID
 
H&R Block
(208) 934-9203
342 MAIN ST 3
GOODING, ID

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Liberty Tax Service
(866) 871-1040
8065 Fairview Ave
Boise, ID

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H&R Block
(208) 238-5958
4240 YELLOWSTONE AVE
CHUBBUCK, ID

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Fast Tax Plus
(208) 887-1817
13965 W Chinden Blvd Ste 110
Boise, ID
 
Liberty Tax Service
(866) 871-1040
1735 W Broadway St
Idaho Falls, ID

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H&R Block
(208) 745-6539
186 E MAIN ST
RIGBY, ID

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Tax Deduction Consulting: Bad Debts

Send Your Kids To Summer Camp and Write It Off

If you paid someone to care for a child so you could work, you may be able claim a tax credit for child and dependent care expenses on your federal income tax return. This credit is available to people who, in order to work or to look for work, have to pay for child care services for dependents under age 13.

The credit is a percentage, based on your adjusted gross income, of the amount of work-related child and dependent care expenses you paid to a care provider. The credit can range from 20 to 35 percent of your qualifying expenses, depending upon your income.

For 2004, you may use up to $3,000 of the expenses paid in a year for one child or $6,000 for two or more children. These dollar limits must be reduced by the amount of any dependent care benefits provided by your employer that you exclude from your income.

To claim the credit for child and dependent care expenses, you must meet the following conditions:

1. You must have earned income from wages, salaries, tips or other taxable employee compensation, or net earnings from self-employment. If you are married, both you and your spouse must have earned income, unless one spouse was either a full-time student or was physically or mentally incapable of self-care.

2. The payments for care cannot be paid to someone you can claim as a dependent or to your child who is under age 19.

3. Your filing status must be single, head of household, qualifying widow(er) with a d...

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