Sending Your Kids to Summer Camp? Don't Forget to Claim This Tax Break
The good news, though, is that there's a special tax break available for families who pay for childcare, and that extends to summer camp. The Child and Dependent Care credit is a credit for parents who have to bear the cost of childcare. Unlike a tax deduction, which merely exempts a portion of your income from taxes, a tax credit is a dollar-for-dollar reduction of your tax liability.