2 years, 3 months ago
Should SAHM/D (Stay At Home Mothers/Dads) recieve tax incentives?
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M$1 Answer
Stay at home dad here... Could you elaborate on your question just a bit?
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M$
Ah, ok.
I don't feel that it is needed, really. Being a stay at home parent is a choice one makes, usually. I have found it very rewarding on its own. And I believe that my daughter having Daddy around more in her first few years will make an impact on our relationship later.
Financially speaking, getting a bonus on our taxes by not spending money on child care doesn't make much sense. you have already saved money. It does nothing for the nations economy, nor your local economy. On paper, it has nothing to do with your income, nor your taxes.
Now, were it available, would I claim it? Yep. It would go right in there with earned income and head of household.
When tax time comes, if you notice there is an area where you can add childcare expences as a tax credit, but there is no place where you can claim homemaker on your taxes and recieve any kind of tax break, i was just wondering if there was anyone else out there that felt like parents should be rewared for raising their own children instead of letting strangers do it. maybe not rewarded perse but maybe a tax break lol