February 13 2024- The cost of raising a child in the U.S. has become expensive, particularly due to increased child care expenses. As tax season approaches, it is advisable for parents to pay attention to tax breaks related to children and child care expenses. The rising costs of child care have been influenced by inflation, and many child care centers have increased their rates, exacerbated by the expiration of pandemic aid. A survey by Care.com found that 47% of parents spent over $1,500 a month on child care in 2023, with 20% spending at least $3,000 per month. The survey included 2,000 U.S. parents with children aged 14 or younger.
https://www.cnbc.com/2024/01/19/how-parents-can-gain-from-two-child-credits-this-tax-season.html
