Deductible as a charitable contribution?
or
Possibly eligable for the dependant care credit?
Maybe even both !
or
Possibly eligable for the dependant care credit?
Maybe even both !
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Non-Deductible
IRS Pub 526: "You cannot deduct payments for child care expenses as a charitable contribution, even if they are necessary so you can do volunteer work for a qualified organization." -
To get the child and dependent care credit, the expenses must be so taxpayer can work or look for work. Volunteer work is specifically excluded from this - see page 6 of Publication 503.Comment
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Thanks for the quick responses!
If your daycare stays open till 8pm and you leave the rugrats there while you volunteer from 5:00 til 7:30 should an adjustment be made?Comment
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Theoretically the answer is probably yes.
However, how much do they have for daycrare costs or how are the charged? By the hour, day, week? Is it a flat fee as to whether the kids are picked up at 5:00 or at 7:30? If it's a minimal amount I wouldn't worry, if excessive you might want to adjust.
Really how do you draw the line? Should I start backing out my lunch hours because I'm running personal errands?
This just my opinion.Comment
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