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Getting Your Child Tax Credits


3. Cash for Childcare

One-fourth of all children younger than 5 are enrolled in childcare facilities, says the U.S. Census Bureau, and those costs add up. Get your money's worth with complimentary cashola.

What you'll get: Claim up to $3,000 per child under 13 ($6,000 max per family), plus up to 35 percent of your qualifying childcare expenses instantly added to your refund.

What you'll need: College transcripts to verify your full-time student status, paystubs or a 1099-MISC if you're freelancing.

How to qualify: Work full time (telecommuting counts!), be in school full time or be actively seeking full-time employment.

Don't forget these deductions, which can significantly reduce your taxable income should you choose to itemize:

  • out-of-pocket medical expenses like prescription co-pays, ambulance rides or midwife pay

  • lactation supplies such as pumps and pads

  • mortgage interest tax

  • student loan interest payments

  • charitable contributions