Wednesday 24 August 2011

How do the tax benefits work with child care expenses? We will spend 24,000 in child care this year.?

We have 2 children, both under 5. This year we will spend 24,000 in child care expenses. I am not sure how this will work on our taxes. I know you can claim child care expenses, but how much do you usually get back for child care expenses?

You can only claim $6,000 of that and depending on your income you can get a credit of up to 35% of that

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