Friday, July 16, 2010

Summer Camps = Summer Fun + Tax Deductions!

For children under 13, the IRS provides a “Child and Dependent Care” tax credit for the cost of day camps and childcare. This includes specialized camps, like art or tennis camp. Overnight camps do not apply. Your actual tax credit can be up to 35 percent of what you pay (depending on your income). More specifically, the tax credit can be applied to unreimbursed expenses of up to $3,000 for one child and $6,000 for two or more.

To find fun camps for your kids, you can always check with your local schools, city government and nearby colleges. Here's a list of websites that have comprehensive listing for camps nationwide for your children:

1. Kids Camp
2. My Summer Camps
3. Camp Page
4. Summer Camps for the Gifted

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