19 Apr, 2021
Child And Dependent Care Tax Credit For 2021 – Applicable Percentage Changes
It’s one thing to increase the maximum potential Child and Dependent Care Tax Credit (for 2021), but it’s another to enable taxpayers to actually ‘see’ those increased credits on their 2021 tax returns. Notably, the actual Child and Dependent Care Tax Credit to which a taxpayer is entitled is calculated by multiplying the amount of … Read More
12 Apr, 2021
Child And Dependent Care Tax Credit For 2021 – Maximum Eligible Expenses Increased
Prior to the changes that the American Rescue Plan will make for 2021, the ‘regular’ Child and Dependent Care Tax Credit has been calculated using a maximum of $3,000 of expenses when the taxpayer has one qualifying child and $6,000 of expenses when the taxpayer has two or more qualifying children. Qualifying children are those … Read More