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20 Things You Need to Know About the Child and Dependent Care Tax Credit

April 6, 2016

Child care expenses can eat up a huge part of a working parent’s budget. A 2015 Parents and the High Cost of Child Care report, by Child Care Aware of America, found the average cost of child care for an infant ranged from $4,822 to nearly $17,062 in the U.S. annually. The study also found the average child care costs for infants was higher than the annual median rent in every state and higher than a mortgage payment in 24 states. This means that many parents are paying more for child care than they are for housing.

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