Video Tips: Child Care for Summertime – What Would Qualify for Tax Benefits?

Summertime means school is out, so working parents often need to find alternative childcare. This could be day camp, babysitters, swim lessons, and specialty programs. Some of those costs qualify for tax benefits — others do not.

The Child and Dependent Care Credit can help offset the cost of childcare for children under age 13 so that parents can work or look for work. Qualified expenses include day camps (but not overnight camps), babysitters, and before/after-school programs.

To claim the credit, you'll need the care provider's name, address, and tax identification number (SSN or EIN). Keep records of all payments made for childcare throughout the year.

Talk to your tax advisor about whether your summer childcare expenses qualify for this valuable tax credit.