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 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%.