The IRS allows the cost of day camp and babysitters for your kids to be deducted from your taxes. This saving is in the form of a tax credit and it allows you to use 35% of all eligible child care expenses up to $6000 for two or more children. This credit is 35% of child care expenses up to $3000 for one child. Just save all your receipts and take them to your tax preparation service.
Remember your child has to be 13 or younger. Overnight camps expenses are not eligible for this credit. The cost of babysitters at home or a home facility is eligible too.
Enjoy the summer and let your kids enjoy themselves too.