If you’re wondering why there are several reasons. First, the enhanced child tax credit has expired. That’s where parents could claim up to $3,600 per child last year, but it’s now capped at $2,000 per child.You can claim a maximum of 35% on $3,000 in expenses for one person or up to $6,000 for two.
Last year the credit was worth a maximum of 50% on up to $4,000 in expenses for one person or $16,000 for two or more. And in order to justify itemizing your deductions which include charitable contributions they will need to exceed the standard deduction of $12,950 for single filers or $25,900 for those married and filing jointly.
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