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.
Oregon Income Tax. 1  The child and dependent care credit is equal to a fraction of the federal credit, depending on income level. 2  The earned income credit is equal to 8% of the federal earned income credit.