Can my payment for summer youth programs be considered a Dependent Care Expense?
With dependent care expenses, it ultimately comes down to what the IRS determines is an eligible work-related expense. In its Publication 503, the IRS includes a section on camp expenses. Whereas the IRS notes that the cost of sending a child to a day camp may be a work-related expense, the IRS has this guidance about overnight camps:
“The cost of sending your child to an overnight camp isn't considered a work-related expense.”
Concordia Language Villages is able to authorize documentation for day camp expenses, but not for overnight programs or any portion of an overnight program.
Can a 529 plan be used toward Concordia Language Villages youth programs?
529 plans can generally be used to cover the beneficiary’s tuition for CLV’s credit programs, but not on its non-credit offerings. The current split on CLV’s residential program fees is that 70% is earmarked toward tuition, while the remaining 30% is for room and board.
Please be aware that distinctions may exist between federal and state tax laws. Please consult with a tax advisor on any and all particulars regarding your specific case.