Originally posted on https://www.coloradoacademysummer.org/is-summer-camp-tax-deductible/
Do you have fond memories of summer camp as a kid?
If so, now that you are a parent, have your children fallen in love with summer camp too?
Going off to camp in the summer can provide your children and your family as a whole with some great memories.
In addition to the inherent benefits of summer camp, for both kids and and parents, there may be a tax benefit in the form of a deduction.
So, should summer camp be on your family’s agenda when summer next rolls around?
Do Summer Camps Count as Dependent Care?
If money has been an issue over time, keep in mind that summer camp can have financial benefits for your family.
Among them, as long as your kid is under the age of 13, and the camp they attend is a day camp, you can qualify for a tax credit. This is for when needing care for your child while you work (or you are seeking employment in some cases). Keep in mind that if your kid goes to an overnight camp, this does not meet requirements of an eligible expense.
In meeting camp requirements to receive financial help, dependent kids under 13 must live with you for more than half the year.
In the event you and the other biological parent have divorced, make sure to check with your tax pro on if your child will meet qualifications. Your kid is seen as a qualified dependent when living with the parent who has court-approved legal control.
It is also important to note the actual figures involved.
The largest expense allowed for the credit over a year’s time does have limitations.
So, a qualifying child would mean a limit of $3,000, while it is $6,000 when it involves two or more children.
Last, remember these factors when determining if you can get a credit:
- Any preventative healthcare needs for your child to attend a day camp can be a deduction.
- Any costs related to trips occurring during the hours the day camp is running (a field trip etc.) are eligible.
- Any items required by the camp (clothing, equipment etc.) are not a deduction.
Benefits to Your Child and Family
Along with the potential financial benefits, look at some of the other advantages of camp.
- Your son or daughter can pick up one or more new skills.
- Your child gets to bond with others his or her age. This can be especially important if your son or daughter is on the shy side. Making new friends can help them grow as a young individual.
- You have some time away from your child. As much as you love them, it is important to have some time for yourself. This can mean being able to concentrate on your work as you would when they are in school. It can also lead to getting errands or projects done around the home.
In sending your child to camp, look at the different benefits that can come of it for the family.
When you do, there’s a good chance you will be registering your children the next time camp rolls around.