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re: A question for the tax experts of the OT

Posted on 1/14/14 at 8:36 am to
Posted by Poodlebrain
Way Right of Rex
Member since Jan 2004
19860 posts
Posted on 1/14/14 at 8:36 am to
You will likely max out the benefit of child care expenses independent of the behavioral specialist, so there will likely be no tax benefit to reporting the expense as child care. You could claim it as a medical expense, but you can only deduct medical expenses to the extent they exceed 10% of your adjusted gross income. At $360 per week you've got about $8,000 over six months. Adding that to your other out of pocket medical expenses, you may be able to deduct some of the costs.
Posted by Jcorye1
Tom Brady = GoAT
Member since Dec 2007
71486 posts
Posted on 1/14/14 at 9:13 am to


I make sure to click every single tax thread so I can read your responses. They've taught me a lot about how being a CPA works.

I'm about to take my first exam, FAR, next month!
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