30 Jul 2024
Summer is a time when many parents and guardians experience greater childcare needs. With schools being closed for the season, many caretakers choose to send their children to summer camp. While summer camp can be costly, it can count as a childcare expense so you may be eligible for a tax break. Consider that up to $6000 of summer camp costs can count towards the Child and Dependent Care Credit. Alternatively or in conjunction with the tax credit, up to $5000 of pre-tax funds from a dependent care flexible spending account (if your employer offers this type of FSA) can be used to cover summer camp costs. Click the following article for details and restrictions.
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