 Income tax 2022-2023. Child and dependent care expenses credits. Can you claim the credit? Let's do some wealth preservation with some tax preparation. Most of this information comes from publication 503. Child and dependent care expenses tax year 2022. You can find on the IRS website, irs.gov, irs.gov. Looking at the income tax formula, we're down at the bottom in the credit area. Remember in the first half of the income tax formula is in essence an income statement, the bottom line taxable income being similar to the bottom line of the income statement, net income. We then take that taxable income, calculate the tax not with a flat rate, not with a flat tax, but with a progressive tax system to get to the tax before credits and other taxes. Then we're finally going to be dealing with those credits and other taxes like self-employment tax.