child and dependent care credit

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10 Best Tax Deductions and Credits for Parents

As you get ready to file your tax return for 2012, don’t overlook many of the benefits that were ushered in when Congress passed the American Taxpayer Relief Act in early 2013. This act – also known as the so-called “fiscal cliff legislation” – may work in your favor, particularly because it gives many parents …

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Cutting taxes

Can I Claim the Child Tax Credit Plus the Child and Dependent Care Credit?

Q: Can I claim the child tax credit plus the child and dependent care credit? A: As long as you legally qualify for both credits, you are allowed to claim both the Child Tax Credit and the Child and Dependent Care Credit, according to IRS rules. To claim these credits on your taxes, simply calculate …

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