DAVID S. BABOIAN, CPA, PC

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11/25/2016

November 25th, 2016

Read Now
 
TAX TIP OF THE DAY... MAXIMIZE YOUR DAYCARE CREDIT

​1) use SUMMER CAMP tuition (no overnight camps).
2) use after school CLEANING LADY if kids are home alone. 
3) BABYSITTERS can be used; but you'll never see that sitter again if you ask for their social security number. 
4) use daycare for dependent PARENT WITH DEMENTIA.
5) Daycare FLEXIBLE SPENDING ACCOUNTS (FSAs) at work usually save more tax, but at the risk of the "use it, or lose it" feature.
6) Parents must be working, JOB HUNTING, STUDENT or DISABLED.
7) applies to children under age 13, disabled children of any age or dependent PARENTS WITH DISABILITIES.
8) Always list a 2nd child on the form even if child #2 was not in daycare. This quirky rule can save you $600 or more. 
9) child of DIVORCE... the custodial parent gets the credit EVEN IF NOT CLAIMING THE CHILD as a dependent on the tax return.

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If you need any help..  www.baboiancpa.com 

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    David S. Baboian, CPA

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  • Home
  • Services
    • What we do
    • Are we right for you?
    • $99 Jump-start
  • Client zone
    • Individual clients >
      • Identity Theft - IRS Affidavit
      • Personal Financial Statement
    • Business & rental clients >
      • Example expenses
      • Mileage log
      • Petty cash log
      • Sales tax
      • W9 for subcontractor
      • Example Profit & Loss
      • Obamacare Self-employment Ledger
    • Payroll services >
      • Employee paystub portal
      • EMPLOYER set up forms
      • EMPLOYEE set up forms for new hires
    • Web Links
  • About us
    • Contact
    • Our team
    • Dave's resume
    • Dave's bands
    • Haunted Chamber
    • Picture gallery
  • Secure email