Episode Details

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: • A qualifying child must be under age 13; expenses stop qualifying on their 13th birthday. • Expenses must be for care, not education; overnight camps and school tuition are common non-qualifying examples. • The credit is limited by the lower of the two spouses' earned incomes. • A non-working student or disabled spouse is deemed to have earned income of $250 or $500 per month. • The maximum expenses used for the credit are $3,000 for one qualifying person and $6,000 for two or more. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep