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 credit (New York State) Qualified to claim the federal child and dependent care credit (whether you claimed the federal credit or not). If you did not claim the federal credit, see Form IT-216, Claim for Child and Dependent Care Credit, and its instructions. For more information on qualifying for the federal credit, see federal IRS Publication 503, Child and Dependent Care Expenses. How much is the credit? The credit is a minimum of 20% and as much as 110% of the federal credit, depending on the amount of your New York State adjusted gross income.