We treat general psychiatric disorders such as depression, panic disorder, anxiety disorder, bipolar disorder, attention deficit disorder, eating disorders, chronic mental illness, substance abuse and other psychiatric disorders.
In general20, you can deduct up to $8,000 annually for each child who is aged six or under at the end of the year, and up to $5,000 for each child aged seven to 15 at any time in the year. This limit is increased to $11,000 annually for each child who is eligible for the disability tax credit (see topic 80). In general, the total deduction cannot exceed two-thirds of the salary or business income of the parent who is required to claim the deduction. However, itâs limited by the actual amounts paid in the year for childcare. 20 For 2014 and prior years, these annual limits were up to $7,000 for children age six or under, up to $4,000 for each child age seven to 15 and up to $10,000 for children eligible for the disability tax credit.
The credit for child-care expenses is a percentage of the amount paid, and you can use $3,000 in expenses paid for one qualifying child or $6,000 in expenses for two or more qualifying dependents as a factor in the formula. The percentage is based on your adjusted gross income, and can range from 20%-35%.