Summer Camp Tax Credit - Parents

Arts & crafts, swimming...and a substantial tax break? Yes. If a day camp cares for your child so you can work or look for work, you may qualify for a child-care credit on your federal income tax, says Cindy Hockenberry of the National Association of Tax Professionals. (Unfortunately, overnight camps don't qualify, because they also care for kids after hours.)

The credit allows you to claim 20% or more of a camp's cost - up to $6,000 - when calculating your tax bill.

Read IRS Publication 503 (download it at IRS.gov) for the rules.