Are child care costs tax deductible?
814588
ou may deduct up to $3,000 of the qualified child and dependent care expenses paid in a year for one qualifying individual, or $6,000 for two or more qualifying individuals. These dollar limits must be reduced by the amount of any dependent care benefits provided by your employer that you exclude from your income.\n\nirs.gov:  FAQ\nChild Care Credit/Other Credits \n\n7.1. Child and Dependent Care Credit & Flexible Benefit Plans\n\n7.2. Child Tax Credit\n\n7.3. Credit for the Elderly or the Disabled\n\n7.4. Hope & Life Time Learning Educational Credits\n\n7.5. Other Credits
257249
YES. From the IRS website:\n\nThe following are types of expenses that go into figuring the cost of goods sold.\n\n- The cost of product or raw materials, including the cost of having them shipped to you. \n- The cost of storing the products you sell. \n- Direct labor costs (including contributions to pensions or annuity plans) for workers who produce the products. \nFactory overhead expenses.
39351
No.  Ask your tax consultant, but it is not a cost of doing business...
177337
If they are separate businesses each one needs to be but on its own schedule C. What kind of business and what kind of deductions? You might be missing some. Anything that you use or have because of that business is deductible.
67105
You get a tax deduction for each household member or dependent.
378795
not if you are looking at as a "deduction"\nit's a flat rate up to a ceiling, based on taxable gross income. best way to reduce it is, pretax deductions (401, pretax med insurance, fsa, etc)
809851
most rates are 2.55 an hr.thats day time more for evening.a liscenced day care can charge 120.00 a wk. and you still pay that rate when your child isn't there to keep your spot open,this includes vacation as well.you don't say the amount of hrs. good luck, happy holidays
265877
Well, since she doesn't use her breasts just for business, then that would be a big fat NO. Unless it's something that you use solely for your business,9 times out of 10 you cannot write that off. Uniforms used exclusively for work and nowhere else, makeup used exclusively for work, etc would be tax deductable. I don't think you could even use depreciation on that. Hope this helps.
989632
They should both be deductible. Both are 501 (c) 3 organizations.
210271
The only legal fees you can deduct from your taxes are fees pertaining to taxes and legal fees for your business if you have one. So the answer is no.
1164428
if you do the day care from your home you will only pay one rent and if you go thur your local social services and get properly licensed they will remburse you for a portion of your untiliies and rent to compensate for the childcare, on top of the pay for your services. there is so really good money in it...
203857
You can not take a deduction for them. If they had a social security number and lived here and you pd 50% of their support you could. You might see if there is a non profit (like a church) org that you could donate to that would help your family. That would be the only way. Bless you for taking care of them!!!
375421
To GET one talk to the IRS. Its just a tax ID number.\n\nTo get the one of the child care provider, ask them.
486971
$2.64 dollars per hour per child, I am not licensed. I just run an informal daycare in which i am allowed to watch up to 2 children.I get paid through Social Services though.\nMany licensed daycare providers charge anywhere from $140-$180 a week per child\ngood luck!
1164555
In general, no.  According to the IRS:\n\n"Qualified expenses do not include expenses for home schooling or for nonathletic supplies for courses in health or physical education.\n\nThere is no deduction for your child's home schooling expenses. These are nondeductible personal, living, or family expenses. Please refer to Publication 529, Miscellaneous Deductions."\n\nhttp://www.irs.gov/publications/p529/index.html\n\nYou may take a charity donation tax deduction for donations to 501(C) non-profit homeschool organizations.\n\nYou can use a Coverdell Education Savings Account to pay for homeschool expenses, but like a Roth IRA, the contributions are not deductible.  The interest gained is tax-sheltered, though.\n\nSome states, such as Minnesota, allow you to deduct some homeschooling expenses from your state income taxes.
282428
Dependent care is classified as a care giver or day care situation. Tennis lessons are not relevant to the care that is provided to the dependent.\n\nNot to mention you have to provide the Taxpayer ID number of the caregiver each and every time you make a claim.\n\nEligible expenses\n\nThe following expenses are eligible for reimbursement under a Dependent Day Care Flexible Spending Account:\n\nExpenses for a day care center, summer day camp or preschool. The facility must be licensed under state or local law if it cares for seven or more children. \nExpenses for an unlicensed day care center that cares for six or fewer children. \nExpenses at an adult day care facility (but not expenses for overnight, nursing home facilities). \nThe cost of day care and housekeeping services in your home for your child or other qualifying individual. \nThe cost of meals, lunches and snacks, supplied by a day care provider (not the cost of meals while on field trips and outings or those meals included as part of the cost of such trips). \nBack to top\n\nIneligible expenses\n\nThe following expenses are not eligible for reimbursement under a Dependent Day Care Flexible Spending Account:\n\nDay care for a child age 13 or older \nOvernight summer camp (cannot prorate for the day portion) \nKindergarten or school tuition for a child age 5 and older \nExpenses for any care provided to a qualifying dependent by another dependent or child under age 19 \nHousekeeping expenses not related to dependent day care \nThe expenses for which you claim a dependent day care tax credit on your federal income tax return \nThe registration fees paid for day care, summer camp, kindergarten, preschool, etc. The only exception is day camp or registration fees applied toward the first payable bill. These are eligible once the initial bill has been paid and the service has been provided. \nThe cost of meals while on field trips and outings or those meals included as part of the cost of such trips \nHealth care expenses for a dependent. These should be considered for reimbursement through a Health Care Flexible Spending Account. \n\n\nGood try, though.
1023408
can you really put a price on your childs development?? \nNo seriously, they all price based on the quality of care they recieve at each center....so price accordingly.