Now that most schools are out for the summer, you might be sending your children to day camp. The good news: You might be eligible for a tax break for the cost. Day camp is a qualified expense under the child and dependent care credit, which is worth 20% to 35% of qualifying expenses, up to a maximum of $3,000 for one qualifying child and $6,000 for two or more. Note: Sleep-away camp doesn’t qualify. Eligible costs for care must be employment-related. In other words, they must enable you to work or look for work if you’re unemployed. Additional rules apply. Contact us if you have questions about your eligibility for this credit and other tax breaks for parents.
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