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.
The higher your tax bracket, the bigger the benefit. The dependent-care tax credit, on the other hand, is worth 20 percent to 35 percent of up to $3,000 in eligible child-care expenses if you have one child, or up to $6,000 if you have two or more children.