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Tax Deduction Consulting: Bad Debts Rutland VT

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.

Kupiec Al & Associates
(802) 879-1509
58 Pearl St
Essex Junction, VT
 
Lachance Susan CPA PC
(802) 878-7677
45 Logwood Cir
Essex Junction, VT
 
H&R Block
(802) 863-9999
155 DORSET ST
SOUTH BURLINGTON, VT

Data Provided by:
Jacob Philip H Tax And Business Services
(802) 862-8889
12 Perrotta Pl
Burlington, VT
 
H&R Block
(802) 442-3100
222 NORTH ST
BENNINGTON, VT

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Independent Tax Service Inc
(802) 863-2271
Chace Ml
Burlington, VT
 
H&R Block
(802) 288-8079
4 Carmichael St
Essex Junction, VT

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Associates In Accounting
(802) 878-9619
6 Pinecrest Dr
Essex Junction, VT
 
Guinness Tax Service
(802) 658-2132
34 Patchen Rd
South Burlington, VT
 
H&R Block
(802) 388-3190
260 Court ST
Middlebury, VT
 
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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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