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Last-minute tax tips

Child, and more, care credit Millions of parents claim the Child and Dependent Care Credit each year to help cover the costs of after-school day care while mom and dad work. But some parents overlook claiming the tax credit for child care costs during the summer. This tax break also applies to summer day camp costs. The key here is that the camp is a day-only getaway that supervises the child while the parents work. You can't claim overnight camp costs. Remember, too, the dual nature of the credit's name: <a href='http://www.bankrate.com/finance/money-guides/make-sure-your-children-are-a-tax-credit-to-you.aspx?pid=p:bos '>child and dependent . If you have an adult dependent who needs care so that you can work, those expenses can be claimed.
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Child, and more, care credit

Millions of parents claim the Child and Dependent Care Credit each year to help cover the costs of after-school day care while mom and dad work. But some parents overlook claiming the tax credit for child care costs during the summer. This tax break also applies to summer day camp costs. The key here is that the camp is a day-only getaway that supervises the child while the parents work. You can't claim overnight camp costs.

Remember, too, the dual nature of the credit's name: child and dependent. If you have an adult dependent who needs care so that you can work, those expenses can be claimed.