Giving our child quality care can be really expensive. We earn and save to give our children a better future and shape their present beautifully. However, many people are there who realize that costs have increased so much that quality becomes a difficult task for them. Now, there are programs as child care subsidy programs that you must be aware of as they give you many options for quality child care and development. Look at the resources through which you can take help and lower your cost of raising your little one.
State Wise: The government helps the individual states by offering them the costs of child care but the facilities provided to family differs state wise. Many of them are strictly for children under 13 and possess strict rules to eb followed. Ensure you check the requirements as many permits home-based care and only few accept day care centres. You can connect with Child Care and Development Block Grants for further assistance on this.
Military: The government even provides subsidies to the Department of Défense and the Military members and their eligibility depends as per their branch of service.
Child Care Tax Credit: Working parents are eligible for a tax break with this Child Care Tax Credit. They can itemize upto $3000 per child in child care expenses. Maximum they can opt for is 2 children. When your file your return at that time you can claim this and itemize in your filing.
Child Tax Credit
As soon as your child is born you become eligible for child tax credit of $2000 under the age of 17.
Earned Income tax Credit: This is a special kind of tax credit which is made for low to medium class income earners. It does not have a fix amount and range from hundreds to thousands depending on number of children you have and your filing status.
Employer Subsidy Program
Child Care Network Programs: Lot of companies these days have partnered with the child care agencies for their employees. It is like an extra benefit to their employees where they can connect with child care center through company’s reference and get a discount in total.
Such providers are available for long term and short term child care. You can connect with your Human Resource department and know more about this policy if company lists it or not.
Student Child Care Subsidy Programs
There are many universities that are great in terms of assisting students with various facilities. If you or your spouse is a student then they might provide you the facility of child care by offering you the financial assistance for it in any way. Some universities are there that offer on-campus child care or low cost child care for their eligible students.
Many states are there that provide degree students a help in paying for their child care and boost their education for better future of nation. You must check it with your university or school as it completely depends on them.