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 Child and Dependent Care Credit offers tax relief if you had to pay for someone to take care of your child or other dependent while you worked or looked for work. Generally, itâs 20% to 35% of up to $3,000 of daycare and similar costs for a child under 13, an incapacitated spouse or parent, or another dependent so that you can work (and up to $6,000 of expenses for two or more dependents).