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sweetie525
LIF Adolescent
Member since 8/12 567 total posts
Name:
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Taxes & chilldren?
I am a 1st time mama- when doing my taxes this year, what is considered a tax write-off? TIA
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Posted 2/10/14 4:06 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
KGools
Happy
Member since 9/06 9532 total posts
Name:
Kim
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Re: Taxes & chilldren?
daycare
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| Posted 2/10/14 4:18 PM |
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LSP2005
Bunny kisses are so cute!
Member since 5/05 19461 total posts
Name:
L
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Re: Taxes & chilldren?
Posted by KGools
daycare
I thought this was only if both parents worked? Also do you have to put the money into one of those FSA accounts first?
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| Posted 2/10/14 4:21 PM |
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LuckySV
LIF Adult
Member since 10/05 4675 total posts
Name:
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Re: Taxes & chilldren?
According to my accountant both parents have to work and it does not need to go into an FSA first.
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| Posted 2/10/14 4:23 PM |
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NYCGirl80
I love my kiddies!
Member since 5/11 10413 total posts
Name:
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Re: Taxes & chilldren?
You get a child care credit if both parents show income in the tax year. This is completely separate from a childcare/flexible savings account.
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| Posted 2/10/14 4:56 PM |
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sweetie525
LIF Adolescent
Member since 8/12 567 total posts
Name:
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Re: Taxes & chilldren?
Any supplies? breastpump, etc?
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| Posted 2/10/14 5:02 PM |
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NervousNell
Just another chapter in life..
Member since 11/09 54921 total posts
Name:
..being a mommy and being a wife!
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Re: Taxes & chilldren?
Posted by LSP2005
Posted by KGools
daycare
I thought this was only if both parents worked? Also do you have to put the money into one of those FSA accounts first?
You don't have to do an FSA but yes, both parents have to work.
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| Posted 2/10/14 5:05 PM |
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MrsO
Big Brothers to Be
Member since 1/07 4521 total posts
Name:
Maureen
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Re: Taxes & chilldren?
Posted by sweetie525
Any supplies? breastpump, etc?
No - unless you have large medical bills that exceed I believe 10% of your agi
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| Posted 2/10/14 5:05 PM |
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LSP2005
Bunny kisses are so cute!
Member since 5/05 19461 total posts
Name:
L
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Re: Taxes & chilldren?
Posted by MrsO
Posted by sweetie525
Any supplies? breastpump, etc?
No - unless you have large medical bills that exceed I believe 10% of your agi
And they can't be already reimbursed by your insurance plan too. If you live in NJ on State taxes it is above 2% which is nice.
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| Posted 2/10/14 5:26 PM |
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