What Are Tax Deductible Summertime Activities?

Income and Investments

Take a look at the thermometer. Summer has arrived. The kids are out of school, the air has warmed up, the swimming pools are packed, and everyone wants to find something fun to do.

As your eyes peer across the summertime landscape of fun, why not save a little money and try finding some tax-deductible activities that the whole family can enjoy.

We’re all looking for an enjoyable summer this year, but that doesn’t mean you have to break the bank.

Summer-Time Memberships

All across this country there are zoos, aquariums, and museums that offer tax-deductible memberships.

Most of these memberships help keep staff employed, help with the upkeep of the organizations, and help them to grow and expand.

And the best part, many of these memberships come with free admission, either for the summer or for the entire year.

You can give your local museum some financial assistance while enjoying the admission throughout the summer.

If you’re not into animals or museums, you can search around your community to find other non-profit organizations that offer tax-deductible membership or admission.

City youth centers, children’s play places, and family activity centers are great places to enjoy the summer months while saving a little cash come tax time.

Completely Free

Why stop at tax-deductible when you can go completely free? That’s right, you can also keep your summer bills low by finding things for you and your kids to enjoy that are completely free of charge.

Parks, youth groups, camps, churches, and even playing outdoors all offer good, free fun.

Free kids day camps and craft seminars are great places to bring out the creativity in your child without bringing out any cash.

City libraries offer a plethora of free activities throughout the summer that blossom your child’s imagination, keep them entertained, and help them continue their education while they’re out of school.

And if your local library’s summer camp or summer activities program do have a cost or membership requirement, that cost will likely be tax deductible.

Tax-Deductible Childcare

Will you send your child to a day camp, a summer camp, a play-place/day care, or a baby sitter this summer so you can go to work or look for a job?

If so, then chances are good that you’ll qualify for the child and dependent care credit. You can claim up to thirty-five percent of up to $3,000 of expenses for a single child or $6,000 for two or more children.

Whatever you choose to occupy your free time during the summer months, know that not everything has to drain your wallet.

There are plenty of things for you and your family to take part in that will also reward your bank account. Literally, looking outside the box can pay off.

Comments (1) Leave your comment

  1. For a summertime project, if I take out a first mortgage HELOC on my first home to finance the building of a second home, will the interest on the HELOC be completely tax deductible?

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