Which of these options can make childcare more affordable for you?
Child Care Subsidy Programs
We understand that affording tuition can be challenging, which is why we're here to guide you through the available assistance programs. Here are a few helpful resources:
* State and Local Agencies: We work with state and local agencies offering tuition subsidies, making quality education more affordable for families.
* Virginia's Department of Social Services: We accept subsidies through Virginia's Department of Social Services, ensuring financial support is accessible to all families.
* Ready Kids: Through our partnership with Ready Kids, we provide assistance to families seeking tuition support, helping to remove financial barriers to education.
* Child Care Aware's Military Subsidy Program: We participate in Child Care Aware's military subsidy program, offering valuable assistance to military families in need of child care services. * Virginia Foster System: By accepting subsidies through the Virginia Foster System, we support children in foster care by providing stable access to education.
At Bright Side Early Care and Learning Center, we believe in making quality education accessible to every child. With our commitment to accepting various subsidies and assistance programs, we're here to support your family's educational journey.
Don't hesitate to reach out to us to learn more about how we can help you access tuition assistance for your child's education.
Child Care Tax Credits
Important News for Parents! Understanding taxes can feel like figuring out a puzzle, but we hope this information will help make it simpler, especially when it comes to saving money on child care. Ever heard of a tax credit? It's like a discount directly applied to your taxes, making it even better than a deduction. Some credits are so helpful that they can even lead to a refund.
The American Rescue Plan Act of 2021 has brought some significant changes, especially for families with children. Here's the breakdown of the new federal benefits:
* You can claim up to $8,000 from the federal Child and Dependent Care Tax Credit for 2021, with up to $4,000 for each of your first two children. It's refundable meaning you might get money back.
* There's also the federal Earned Income Tax Credit, which can give you up to $6,728. * Thanks to the federal Child Tax Credit, you could receive $3,600 per child under six (as of December 31, 2021) and $3,000 for children 17 or younger (as of December 31, 2021). These amounts are now part of permanent law.
These credits do come with rules, so it's a good idea to talk to your tax advisor to see how they apply to your family. In the meantime, you can use this Child Care Tax Credits Calculator for a rough estimate.
And don't forget about state benefits. Each state offers different tax credits for child care expenses, so be sure to explore what's available in Virginia.
Understanding taxes might not be the most exciting thing, but saving money definitely is. So take advantage of these benefits and give your family's finances a boost.
Tell A Friend and Save
NEW! Share the Love. When you recommend our child care center to another family, you'll receive a generous $200 tuition credit once they've been enrolled for a month. It's our way of saying thank you for helping another family discover the benefits of our center while enjoying some perks yourself.