Childcare costs can be sky high, especially as many daycare centers raise their prices post-pandemic. Fortunately, there are financial assistance programs available that can help to bring costs down, as well as various affordable childcare options.
Government Subsidies: Certain governmental agencies may offer subsidies for the cost of childcare and early childhood education services for low-income families. Check with your local government or social services agency to see what you qualify for.
Employer-Sponsored Dependent Care Account: Ask your employer about a dependent care account and find out if this is an option to help offset some of your childcare expenses. This program allows you to set aside up to $5,000 of pre-tax income for eligible childcare costs like before/after school programs and summer camps.
Tax Credits: A Child and Dependent Care Tax Credit may also be available to taxpayers who need childcare in order to work, look for a job or attend school full-time with an adjusted gross income of less than $438,000. This credit gives up to $4,000 back per qualifying dependent (or $8,000 if two or more dependents are involved).
Affordable Childcare Options: Instead of paying higher tuition rates at traditional daycares and hiring a nanny with a hefty price tag – explore co-op daycares where parents will share responsibility in helping running the daycare or select a in-home daycare like Pooh Bear’s Daycare in Manassas Park, VA which provides individualized one-on-one care for your children unlike other large centers in the Manassas, VA area and offers lower rates in the Manassas Park, VA area. Give us a call at (571) 217-8694 or visit our website (poohbearsdaycare.com) for more details and information. Check out our links here.
