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Questions tagged [child-care]

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3
votes
1answer
144 views

US taxes small mistake that doesn’t change tax or refund

Last week I filed my tax return. For the child care credit, I wrote I spent X dollars. I redid the calculations, and turns out I spent X+6 dollars. This obviously can’t make me owe more taxes and ...
21
votes
6answers
6k views

Affording Daycare for first child

My wife and I are expecting our first child later this year and I have been budgeting to see what we can afford for child care. It looks like the average cost of childcare is ~$1000-$1200/month. This ...
2
votes
1answer
921 views

Does year of payment matter for Dependent Care FSA?

I have a Dependent Care FSA at work, and have exhausted the funds for this year during the first half of the year (as I typically do). I will be eligible to use it for one more year, as my youngest ...
1
vote
0answers
98 views

Claiming FSA money for a nanny share?

We are two families (A & B) going for a nanny share (1 child each). A will be the principal employer where her paystubs come from (children will always stay at A's house, A has the insurance and ...
5
votes
1answer
82 views

How much will I benefit if I get receipts for child care? (Canada)

I am returning to work soon and will pay approx $13,000/year for care for my little one. I would appreciate feedback as to whether I am understanding the value of claiming child care on taxes... I ...
7
votes
1answer
112 views

In a 2 income family, is it more tax beneficial for the lower income spouse be the Primary Caregiver (Ontario)?

My wife and I just had a new daughter. My wife applied for the 4 in 1 newborn package and she was designated as the primary caregiver and applied for the child care benefits. Since she makes more ...
1
vote
1answer
178 views

child care expenses not taken into consideration by my tax consultant

I am paying huge amount of money for last 3 years for my children's daycare. I see here that i can claim the expenses incurred for child care so i and my spouse can work. I checked all the 10 clauses ...
3
votes
0answers
1k views

What will happen if you filed your taxes with two different locations? How can it be solved?

I was living in Winnipeg, Manitoba and I had done my taxes online with H&R Canada Online. H&R Canada provided me with some papers to print out and then it was settled, I moved to Sudbury, ...
2
votes
0answers
1k views

Dependent care FSA: Paying a grandparent for providing childcare?

I have a dependent care FSA account that I set up. Both my wife and I are employed. I would like to use this money to pay for my child's care at home by his grandmother. I already know that I can ...
4
votes
1answer
720 views

My dad wants to transfer money from India to US as a family maintanance

What is the tax implication if my dad is sending money to me here in US as a family maintenance? Do I have to pay tax on that money and how much will that be?
3
votes
2answers
895 views

Should my mother be an Independent Contractor or my Employee (for tax purposes) as she provides babysitting services to my young children?

My 65-year old mother lives with us in Florida, and she takes care of our two young children while my husband and I are at work. My husband and I pay my mother about $6,000 a year in cash, and we use ...
1
vote
0answers
143 views

Tax implications of using FSA funds during grace period

I have a dependent care FSA through work. In 2014, I did not use all of the funds, but I have until March 15, 2015 to do so. I will also have an FSA for 2015. While I do my taxes through ...
1
vote
1answer
8k views

Dependent care FSA and child care provider Social Security Number

We signed up for a full dependent care FSA ($5000) through my wife's employer at the end of last year knowing we'd need child care this year in some form. This year we've found a local older woman ...
2
votes
1answer
419 views

Can I claim the child care tax credit in addition to using a dependent care FSA?

Dependent care FSA is capped at $5000 annually and I use this entirely. The annual child care credit is $3000. If my expenses are over $8000, can I utilize both of these in the same calendar year?
3
votes
2answers
206 views

Nanny taxes and payroll service

We are employing a nanny for our 6 month old. What service do you recommend for managing taxes and payroll? Is it possible to do on our own? If so, where do we start?
7
votes
4answers
621 views

Day care tax deduction

In the US, are day-care expenses tax deductible? And if so under what conditions? For example, if one parent is working, but the other is still going to (graduate) school, is any kind of deduction ...
6
votes
1answer
980 views

Dependent Care Flexible Spending Account (DCFSA) over-contribution rules

During these days we have an enrollment period for 2014 benefits at my workplace. After this window, no changes will be allowed to my contributions selections. One of the benefits is a DCFSA. One ...
2
votes
1answer
756 views

Taxes and childcare expenses deduction for a dual-income couple in Alberta?

We live in Alberta and need to know if we should obtain a receipt for childcare. We paid $2400 last year. My common law husband made $49000 last year and I made $28500. Is this worth it? Will our ...
0
votes
1answer
423 views

Can I claim child care expenses as a deduction on my federal return in Quebec?

My friend want to claim Child Care expense for Federal Tax, but as she lived in Quebec, a large part of her children's day care fees are already returned by Quebec government. So could she still ...
4
votes
1answer
291 views

Can you claim child care expenses on your tax return in the UK?

Can you claim child care expenses on your tax return in the UK?
1
vote
1answer
6k views

Child care expenses: How much deduction can be claimed on tax return? [Canada]

How much deduction can be claimed for child care expenses on a Canadian income tax return, for 2009? Does it vary by province? Are receipts required to claim a child care expenses deduction?
7
votes
2answers
2k views

In Canada how much are child care receipts worth for income tax?

How much can my family expect to save on taxes if we ask our sitter for a receipt for last year? Our kids are 6 and 10 and we paid about $2300 last year for occasional child care. My husband and I ...
5
votes
1answer
469 views

We get receipts from our child care provider. Can we still claim a tax benefit even though they're not licensed?

We get receipts from our child care provider. Can we still claim a tax benefit even though they're not licensed? [Note: This is my paraphrased version of a similar question I answered at moms4mom.com....