Claiming childcare tax credits

[Taylor5469]

Thank you for the thread, as far as I know the child tax credit is a tax credit worth up to $2,000 per qualifying child and $500 per qualifying dependent. It is one of three kid-focused federal tax credits and such an option are among the most effective ways to reduce your tax bill. For a child's tax credit you must have provided at least half of the child’s support during the last year, and the child must have lived with you for at least six months. Please correct me if I’m wrong. And the child has to be 16 or younger by the end of the calendar year.

[Suzie_Homemaker]

Thank you for the thread, as far as I know the child tax credit is a tax credit worth up to $2,000 per qualifying child and $500 per qualifying dependent. It is one of three kid-focused federal tax credits and such an option are among the most effective ways to reduce your tax bill. For a child's tax credit you must have provided at least half of the child’s support during the last year, and the child must have lived with you for at least six months. Please correct me if I’m wrong. And the child has to be 16 or younger by the end of the calendar year.

YOu're wrong. Because you are answering about the facts in USA and this is a Canadian site. Different countries. Different tax laws. Different limits. Different child care laws.

In Canada it's actually increased since this thread. Max of $8k per child but its the taxable amount you get a tax credit for not the entire expense. So whatever your personal tax would be on the $8k is what you will get a tax credit for,