According to some studies, parents will pay anywhere from $300 to $1,564 per month on Day Care in Lynbrook NY. For many working parents, this amount represents a significant portion of their paychecks. However, those struggling to pay for care for their children may be able to get assistance. Here are a couple of ways to get money for Day Care in Lynbrook NY.
Federal Childcare Grants
The federal government has a program that gives money to state social services agencies to help low-income families pay for childcare so the parents can work to earn income. To qualify. However, families must meet the minimum requirements:
• The child receiving the care must be under the age of 13. Physically challenged children are eligible for care up until age 18.
• The household income for the family must be 185 to 200 percent below the federal poverty level.
• The applicant must be working full or part time or enrolled in an education or training program.
To apply for this help, go to the local social services agency and fill out an application. The agency will typically require proof of identity, income or school enrollment, and copies of bills to show monthly expenses.
Another way to get help paying for Day Care in Lynbrook NY is to take the Child and Dependent Care Tax Credit. This federal tax credit lets filers write off up to $3,000 worth of childcare expenses per kid, with a maximum limit of $6,000 per family. To obtain this credit, families must file Form 2441. Even though this is a once-per-year discount on childcare expenses, it may be a big enough discount to pay for daycare for a few months.
Another tax credit option is to contribute money to Dependent Care Flexible Spending Account. This account lets one person contribute up to $5,000 in pre-tax dollars to an account that can be used to pay for childcare. Users can save as much as $1,000 per spouse in taxes using this option.
Although childcare is a necessary expense, there is help for families who need it. For more ideas on getting assistance paying for Day Care in Lynbrook NY, contact a nearby social service agency or daycare facility.