Are there any Tax Breaks for Working Parents?

Working parents are privy to what's known as the Child and Dependent Care Credit, which was put in place to lessen the tax burden on parents who need to hire babysitters and other forms of child care services.   It's available to both full- and part-time parents, and in certain cases can be utilized by those who work from home offices.  The amount of the credit varies and is determined by income.  This is a smart deduction that can help reduce the amount of taxes you owe.