CPA Kenneth Hall discussed some back to school tax tips Monday on News 8 at Sunrise.
“The main one is the Child Care Credit,” said Hall. “If you have a child, in the I-R-S’ eyes, that’s less than age thirteen, you can deduct up to twenty percent of three thousand dollars of child care that you pay for one child, and double that for two or more children.” He added the adjusted gross income has to be $43,000 or lower and you have to have a registered child care provider.
Hall said if you contribute to a school fundraiser you can deduct the amount less anything you receive.