A. Maybe! Day camp (but not overnight camp) is a qualified expense under the child and dependent care credit, which is worth 20% of qualifying expenses (more if your adjusted gross income is less than $43,000), subject to a cap. For 2018, the maximum expenses allowed for the credit are $3,000 for one qualifying child […]
Dependent Care Assistance You can take advantage of the annual exclusion of up to $5,000 paid under your company’s dependent care assistance plan. No more than 25% of the amounts paid or incurred during the year can go to shareholders or owners with an interest of more than 5% in the company.