answersLogoWhite

0


Best Answer

$5000 per family

User Avatar

Wiki User

13y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Limit on section 125 child care deduction?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Age limit for a child to enter foster care in sc?

any!!


Child Care Tax Write Offs?

Child care can often be written of off taxes, depending on the age of the child or children. If the family meets certain criteria, it may be elligible for tax credits up to $1,000. For more information on child care taxing, try this site (http://ezinearticles.com/?Child-Care-Tax-Deduction-101&id=351749)


If you have a flexible spending account can you qualify for the child and depende NT care credit?

The child care tax credit limit is $3,000 for one child, and $6,000 for two or more children. The Flex limit is $5,000. If you are paying for one child the answer is no. If you are paying for two or more children, you can utilize the extra $1,000 and apply it to your Child Care Tax Credit.


Did Hitler have an age limit to the kids that he killed?

No, he didn't care about the age of a child.


Can picking cracked lips cause impetigo?

Child care can often be written of off taxes, depending on the age of the child or children. If the family meets certain criteria, it may be elligible for tax credits up to $1,000. For more information on child care taxing, try this site (http://ezinearticles.com/?Child-Care-Tax-Deduction-101&id=351749)


Can the primary custody parent award someone the care of the child if they have to travel out of state on business?

Yes. They are not "awarding" the care of the child. They are "arranging" for the care of the child while they are away.Yes. They are not "awarding" the care of the child. They are "arranging" for the care of the child while they are away.Yes. They are not "awarding" the care of the child. They are "arranging" for the care of the child while they are away.Yes. They are not "awarding" the care of the child. They are "arranging" for the care of the child while they are away.


What is a child care worker?

Child Care Workers are people who are experienced, and trained for child care. They usually study child care topics and work in a licensed child care.


It is your year to claim your child as a deduction can you also claim earned income credit when your child lives with her mother?

If the child lives with the mother more than 50% of the time, you cannot take the deduction. IRS does not recognize court orders on deductions. IRS Deduction Regardless of any custody agreement, or court order the IRS has it's own definition of who the custodial parent is. Section 152(e)(4) defines custodial parent as the parent having custody for the greater portion of the calendar year and noncustodial parent as the parent who is not the custodial parent. If you feel that the mother may challenge this, or attempt to claim the child as well you can also double cover your back by having the Mom fill out form 8332, which basically says "I am the custodial parent of this child, and I am giving up my rights to claim the child this year. The IRS rule is that if you have the child for more than half of the year, and they literally mean 183 days, you are the custodial parent. Time spent in Day Care and/or School is deducted from the total. see links below


What does a child care specialist do?

A child care specialist is a person who works in a child care center. They are also called child care or day care workers.


If you pay pretax dollars on a cafeteria plan towards FSA Dependent care can you still claim the child care credit?

No you can use one or the other, but not both, unless you are paying qualified child care expenses for two or more children. The FSA limit is $5,000 regardless of the number of children. The Child Care Tax Credit limit is $3,000 for one child, and $6,000 for two or more children. If you are paying for more than two children, you can use your FSA for the first $5,000 of expenses, and have $1,000 left over for the tax credit. Consult your tax advisor for more details.


At what age can I legally stop paying child care expenses for my son in Indiana Is there a maximum age that I am responsible for covering it and an age where he shouldn't need child care anymore?

There's no clear age limit, so the interpretation is up to the court. see links


How does the IRS know who is the custodial parent?

Not applicable. It goes by the total amount of time the child spends with each parent. If the custodial parent does not have the child at least 51% of the time, they cannot claim the child. This is why the non-custodial parent needs to keep close track of the time in cases where the other parent has custody merely to get child support and the tax deduction, but has no real desire to care for the child. see link