Child care is one of your biggest priorities, and you want to be sure your child is getting the very best start. There are several options available to help you offset the cost of care, and we’ve made it easy to learn about them.
A tax credit is even more valuable to families than a tax deduction! It’s a dollar-for-dollar reduction in the taxes you owe. Some credits are refundable—reducing taxes otherwise owed to zero and getting a refund.
NEW federal tax benefits:
The American Rescue Plan Act of 2021 enhanced the benefits of families with children and child care specifically. The details of the new benefits can be hard to understand, so we’re here to break it down.
Under current federal law, eligible families can claim 2021 child care tax credits up to the following maximum amounts:
There are rules for these federal tax credits, so please speak to your tax advisor about how they apply to your family. In the meantime, this child care tax credits calculator is a quick tool for a broad estimate.
State tax benefits:
Each state offers different tax credits to offset the cost of child care. See what benefits might be available to you in Montana.
If your family needs help with tuition, there are state and local agencies to provide tuition subsidies. This map is a great starting point for finding the financial assistance resources available.
We Proudly Accept Families Who Qualify For The Best Beginnings Scholarship! Click here to see if you qualify.
More and more employers add child care benefits to their employee compensation packages because it’s hard to do your job without reliable child care!
Talk with your employer or your HR department about whether they offer child care benefits and how to use them.
When families stick with us for more than one child’s care and education, that loyalty goes both ways! If you enroll more than one child with us, we’ll offer you a 10% discount on tuition.