Some states allow LLC members to transfer real property to an LLC to receive a tax exemption. A new LLC can purchase real property and use the real estate portfolio to bolster its financial profile and add to its value.
The child and dependent care tax credit is a percentage of your day care expenses up to $3,000 for one dependent or $6,000 for two or more dependents. That's not the amount of your credit. It's the amount of day care expenses you can apply the percentage to.
Tax credits directly reduce your total income tax bill, so the $1,000 credit saves you $1,000 in taxes for each eligible child. Child Care Expenses If you incur child care expenses so you can work or look for work, you may be eligible for the Child and Dependent Care Credit.