Claiming babysitting money on taxes canada
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Claiming the Child-Care Credit for Preschool Costs
By Kimberly LankfordContributing Editor September 17, I moved my 4-year-old son from day care to a preschool program at a private school this month. Does the cost of preschool still count for the child-care tax credit? Yes, the cost of preschool can still count toward the child-care credit -- just like the cost of day care, a nanny or babysitter, and day camp in the summer and during holidays.
To take the credit, both you and your spouse must work or be looking for work. You can also qualify if one spouse is a full-time student and the other is working.
The total credit depends on your income. It is binary trading scam experts tax credit, rather than a deduction, so it lowers your tax liability dollar for dollar.
For more information, see IRS Publication Child and Dependent Care Expenses. Ask Kim at askkim kiplinger. Toggle navigation Menu Subscribers Log In.
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Can I claim babysitting amounts? – H&R Block Canada
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