Income Tax Deductions and Childcare

by admin on June 28, 2009

It is imperative to know that the federal government issues a reduction of your taxes in three different ways.

• When you have a dependent child / children, your taxes can be lessened. A dependent is any person of minor age who is living with you for more than half of the year. In addition, a dependent is one whom you give a half of your expenses to provide his or her needs.

• Families who acquire a low annual income can acquire a credited tax amounting to two thousand dollars or more.

• The different expenses that you have incurred while simultaneously working and raising a child or looking for a work while raising a child can also reduce up to one thousand one hundred forty dollars of your income tax.

To be able to get these benefits, you should be able to have the following documents and identification cards:
- Receipts (either weekly or monthly)
- Canceled checks if present
- Statement from childcare provider
- Tax ID number or social security ID number

It is important that you have all these requirements in order for you to avail of the income tax deductions.

Nutrition and Childcare
To guarantee that a child is given enough nutrition that he needs each day, the federal government has come up with menu guidelines that daycare centers are usually required following. This is because half of the necessary nutrients that the child needs are provided to him by the daycare centers. The menu guideline classifies the needed food intake by age.

Ages 1 – 3
• 1 ounce of protein (cheese, or beans, and meat or eggs)
• ¼ cup of vegetables
• ¼ cup fruits or ½ cup of fruit juice
• 1 ½ cup of milk
• 2 slices of bread

Ages 4 – 6
• 1 ½ ounce meat and/or egg
• ½ cup of vegetables
• ½ cup of fruit
• 1 ½ cup of milk
• 2 slices of bread

Ages 7 and up
• 2 ounce meat and/or egg
• 1 cup of cooked beans and/or 3 ounce cheese
• ¾ cup of fruits
• ¾ cup of vegetables
• 1 ½ cup of milk
• 2 slices of bread

Daycare centers that strictly follow these menu guidelines are able to receive subsidies from the government provided that they present the needed paperwork.

Smoking, Drug Use, Alcohol and Childcare
It is very important that the parent is guaranteed that their child is in good hands when entering a daycare center. Therefore, certain actions are regulated. Inside the premises of the childcare center, smoking is usually prohibited. Some daycare centers allow people to smoke only outside the building. As provided in the state law, drug use is also prohibited. When an employee is under the influence of alcohol or drugs, he or she is not permitted to work. If this happens, that certain employee may very well be terminated. Before enrolling your child in daycare, make sure that the premises of the childcare center are far from a harmful environment.

For more info: How to start a childcare business

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Tom Shieh has written 323 post in this blog.

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