child and dependent care credit

child and dependent care credit definition - business

child and dependent care credit

A federal tax credit available to working taxpayers or taxpayers seeking work who pay someone else to take care of children or dependents. The credit is calculated as a percentage of spending on child and dependent care, with the percentage a function of a taxpayer's adjusted gross income. Also called dependent care credit.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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