Tax Tips from Stu Steinberg – CPA, National Speaker & Financial Advisor
“Celebrating 25 Years in the Business”
Anyone who has ever had to pay for child care realizes the overwhelming cost. The IRS shares a little break to us with this cost by allowing us a credit on IRS Form 2441. This item is a credit and is a direct reduction in total tax. The care must be provided by a qualified caregiver and the total credit is limited to $1200 for two or more kids. Most states take the deduction as well so there is usually a little savings on the state end, in addition. While this is not a huge credit, it still helps families struggling with the rising cost of child care. With more and more families with two working spouses or single parents, it is not a surprise the cost has skyrocketed!
About Stu: With more than 25 years of experience as a credentialed tax professional, Stu Steinberg brings a broad depth of knowledge to his work. Stu founded Erock Tax to help provide tax strategies to individuals, families and small businesses. He uses his CPA expertise to help each client navigate their long-term debt and mortgage, gaining them the best deals and rates possible. Stu is passionate about empowering his clients through education about their tax health. He is highly energetic and brings a sense of optimism, creative problem-solving and a deep level of commitment to every Erock client.