Childcare Tax Credits & Year end statements

At Bright Blessings Preschool & Child Care Center, we provide families with a year-end tax statement detailing the total amount paid for childcare services. This statement can be instrumental in preparing your taxes and may help you qualify for valuable tax credits.

Child Care Tax Information

A tax credit directly reduces the amount of tax you owe, offering significant savings. For more information on the benefits of childcare tax credits, please refer to the resources below:

• Internal Revenue Service (IRS): For comprehensive details on various tax credits and eligibility requirements, visit the IRS website or call (800) 829-1040.

• Child and Dependent Care Tax Credit: If you paid expenses for the care of a qualifying individual to enable you (and your spouse, if filing jointly) to work or actively look for work, you may be eligible for this credit. Learn more about eligibility and how to claim the credit on the IRS website.

• Child Tax Credit: This credit may reduce your federal income tax by up to $2,000 per qualifying child under the age of 17. Find detailed information on the IRS website.

Please consult with a tax professional or the IRS to determine your eligibility for these credits and to understand how they apply to your individual tax situation.