Tax Tips: Understanding Childcare Expenses

This article was provided by the Tax Professionals at H&R Block Do you pay for childcare? Read this article to understand more about childcare expenses taxes. Parents spend thousands of dollars a year in childcare expenses, so being able to claim them on your taxes can mean a sizeable deduction. But like any deduction, there are rules and guidelines for what you can and can’t claim. Here are some of the most common considerations: No receipt, no claim: Your childcare provider must give you a receipt for childcare expenses. Individuals who offer childcare must provide their Social Insurance Numbers (SINs) … Continue reading