sjrcpa
Level 15
11-01-2020
07:51 AM
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"The Child/Dependent Care Credit is a Credit, so it gives a better dollar-for-dollar impact."
Not necessarily. Depends on your tax bracket and if you have 1 child or more than one.
$5,000 nontaxable wages if you're in the 37% bracket saves a lot more tax than a $600 credit ($3,000 expenses at 20% credit rate).
The more I know the more I don’t know.