A tax credit is a dollar-for-dollar reduction in taxes owed. Some credits are refundable – taxes can be reduced to the point that a taxpayer receives a refund instead of paying taxes. A tax credit is even more valuable to families than a tax deduction.
Under current federal law, eligible families can claim child care tax credits* up to
Credit amounts may change from year-to-year, are usually dependent on total family income and size, and may be subject to maximum income or child care spending limitations. Consult your tax advisor, the IRS, and state revenue officials to confirm your eligibility.
Newstead Academy Child Care
Unit 22 13085 Yonge St, Richmond Hill, ON L4E 3S8
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