Tax Credit for Summer Camp?: Tax Tip of the Week

Did your kids attend any camps this summer?  If so, you may be eligible for child care credits of up to 35% of the amount you paid for them to attend.  Of course there are rules:-    The camp must be a day camp only; expenses for overnight camps do not qualify.-    Both parents (if married) must be employed.  Looking for work also meets the employment requirement.-    You will need the name, address and EIN of the organization/business running the camp.-    Child must be under 13 years old.-    Tax credit gets phased out at higher incomes.So as summer simmers to an end and your kids are enjoying the last few lazy, hazy days of summer before school starts, remember to enjoy some tax credits when filing your next tax return. That just made summer camp a little more fun!Call us with any questions. In Dayton, call 937-436-3133 and in Xenia, call 937-372-3504....until next week.