Some states allow LLC members to transfer real property to an LLC to receive a tax exemption. A new LLC can purchase real property and use the real estate portfolio to bolster its financial profile and add to its value.
The child and dependent care tax credit is a percentage of your day care expenses up to $3,000 for one dependent or $6,000 for two or more dependents. That's not the amount of your credit. It's the amount of day care expenses you can apply the percentage to.
Child and Dependent Care Tax Credit. If you were eligible for a Child and Dependent Care Credit on your federal income tax return, Form 1040 or 1040A for the tax year, you may be entitled to a credit on your Maryland state income tax return.