Summer Camp Tax Credit
Use Tax Dollars to Save on Day Camp!
If your child is under the age of 13 and going to Alpha Omega Summer Camp, you may be able to count the tuition paid as an expense towards the child and dependent care credit. See below to view text from the IRS website.
IRS Summertime Tax Tip 2010-01
(From http://www.irs.gov/newsroom/article/0,,id=172245,00.html)
The cost of day camp can count as an expense towards the child and dependent care credit. Expenses for overnight camps do not qualify. The credit is generally 20% to 35% of non-reimbursed expenses; up to $3000 in expenses for one child and up to $6000 for two or more children. The actual credit is also based on your income.
The credit rate ranges from 20% to 35% of expenses, depending on your income. The 35% rate applies if your income is under $15,000; the 20% rate, if your income is over $43,000. For more information, check out IRS Publication 503, Child and Dependent Care Expenses available on the IRS website.
The child and dependent care information above does not encompass any Flexible Spending Accounts your employer may have established at your company. Please check with your HR Department to find out if your company’s FSA plan covers day camps.
Please note: We specialize in exciting day camp programs, not tax preparation. We recommend that you speak with a tax professional before filing.