The American Camp Association New England Reminds Parents that Summer Day Camp can be a Tax Write Off!
It is a little-known fact that parents can save money on their taxes by sending their kids to summer day camp. The American Camp Association New England details the needed qualifications and what the savings are.
Natick, MA (PRWEB) July 25, 2005
Many parents may not realize that there are tax benefits to sending kids to camp. To qualify for a tax savings, parents must have dependent children under the age of 13 and enroll them in a summer day camp, thus allowing both parents to either work or go to school.
“ This little-known benefit of summer day camp is one of several wonderful benefits of the camp experience for children including increased confidence and self-esteem, improved independence and leadership skills, and additional social skills in a camp environment of healthy play and all around fun,” says Bette Bussel, executive director of the American Camp Association New England, a non-profit organization that oversees and accredits close to 400 camps in the region.
Sending a child to day camp so that a parent can work qualifies as a dependent-care expense. The size of the tax benefit allowable by law varies depending on the parentÂ’s income; and Bussel recommends that parents consult an accountant or tax advisor about how to claim this benefit. If a parent makes more than $43,000, he/she can claim a credit of 20% of the cost of summer day camp or up to $600 for one child. This savings only applies to day camps, not to overnight camps.
“We want parents to know that sending their child to camp can be looked upon as great summer option. Not only does camp help kids grow and flourish, it offers a safe environment while parents are at work. And now there’s the double advantage of saving on your taxes. Everyone wins,” concludes Bussel!
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