I need to know how and what proof I have to have to do this and how much do you usually get back?
2006-12-21 13:09:37 · 7 answers · asked by mommy of 2 4 in Pregnancy & Parenting ➔ Other - Pregnancy & Parenting
Yes- you need a receipt from the daycare with their EIN on it. The receipt will show how much you've paid for the year. It does not necessarily have to show how much you paid per wk/month. It just needs the total for the year.
If you're claiming daycare costs where you paid someone (not a business), then you will need how much you paid for the year and you will need their social security number. Also too, they will need to claim that money on their taxes.
2006-12-21 13:19:46 · answer #1 · answered by guawsgirl 2 · 0⤊ 0⤋
You can claim daycare exp if you and your spouse, if filing joint, are both working. Both people, or you if only you, must earn more in wages than the expenses you are claiming. The amount you get back varies with how much you make, starting at 20% of the amount you pay for day care and going up to about 40% for lower incomes. You must have the persons socials security number, or fein number is a business and take a credit on your tax.
2006-12-21 13:24:09 · answer #2 · answered by irongrama 6 · 0⤊ 0⤋
he's faulty that he gets returned all of the daycare funds, no longer even close, yet he would get a number of it for a childcare credit. he's likewise incorrect that it should be a suitable daycare. Paying a chum qualifies. in case you already pay no tax regardless of the indisputable fact that, and get returned something he has withheld for federal earnings tax, you're no longer eligible for a childcare credit.
2016-12-15 05:53:19 · answer #3 · answered by ? 4 · 0⤊ 0⤋
You most certainly can claim childcare expenses, the amount varies by how many children are in care and what you've spent overall. Keep receipts or bank statements to show what you've spent when you filed your returns.
2006-12-21 14:19:06 · answer #4 · answered by chamely_3 4 · 0⤊ 0⤋
Talk to your CPA/tax advisor...here is Missouri you can claim then (with restrictions). You will need the name and EIN number of the daycare (if it is a single person their SS#).
2006-12-21 13:13:26 · answer #5 · answered by ~Just A Girl~ 3 · 0⤊ 0⤋
yes, you need a receipt from the daycare stating how much you pay per week/month
2006-12-21 13:12:35 · answer #6 · answered by Coltsgal 5 · 0⤊ 0⤋
yes you can and they should ask you for that when you get them done get a paper stating how much you've paid this year and take it with you
2006-12-21 13:13:09 · answer #7 · answered by pumpkinbugaboo 2 · 0⤊ 0⤋