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Dependent Care Credit

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Dependent Care Credit
See "Child and Dependent Care Credit."


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Child and Education-Related Tax Breaks: child tax credit, dependent care credit, education tax credits and 529 plans
Now, an individual's effective marginal tax rate depends upon an almost random combination of income tax rates, Social Security tax rates, and phase-outs (of the earned income credit, the child tax credit, the dependent care credit, personal exemptions, and many other tax benefits).
Under the second fix, you can use your nonrefundable personal tax credits (such as the dependent care credit and the Hope Scholarship and Lifetime Learning higher education credits) to reduce both your 2006 regular tax and AMT bills (same as for 2005).
 
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