Cost of summer camp could pay off come tax time

News

The cost of summer camp could pay off come tax time.

Courtesy of the Child and Dependent Care credit, working parents can save around $1000 per child, up to two children, depending on their income.

There are some conditions that do not qualify, like overnight camps.

To qualify, children have to be younger than 13, and if there is a stay-at-home spouse, the credit won’t kick in.

Payments must be made to the institution or person, and you have to include their address and federal tax identification number on your tax return.

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