question about childcare tax deduction and working at home
Hi mamas.. I'm starting to do freelance translation work at home, and had a tax-related question (obviously not looking for professional advice.. just laymama's advice!)
The IRS allows you a percentage-based tax credit for childcare expenses incurred while parents are working. The rules are pretty nit-picky. Both spouses must work and the expenses that are deducted must pertain to childcare that was obtained DURING the hours of work (or looking for work).
But when I'm working at home, the hours vary and it's hard to keep track of which of my work hours correspond to times when my kids are in daycare and which don't.
How fastidiously do you keep records on this? Or do you just report ALL your childcare expenses at year end for the purpose of tax deduction?
I'm not sure if this post was clear, but thanks in advance!
Re: question about childcare tax deduction and working at home
Might try posting this on WAHM forum.
|All times are GMT -6. The time now is 10:34 PM.|
Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2016, Jelsoft Enterprises Ltd.