Massachusetts Department of Early Education and Care’s Post

🌟 Family Childcare: A Powerful Start to the Year 🌟 Family childcare entrepreneurs are the workforce behind the workforce—educators, community builders, and economic drivers shaping brighter futures for families and children. The Shared Services MA program of United Way of Massachusetts Bay is making a meaningful difference by providing tailored support to help these businesses thrive. On January 7th, United Way of Massachusetts Bay and the Massachusetts Early Childhood Funder Collaborative hosted a legislative briefing at the State House, bringing together leaders, policymakers, and family childcare experts to advocate for greater investment in family childcare businesses. Commissioner Amy Kershaw and Executive Office of Economic Development Undersecrtary Ashley Stolba emphasized that family childcare is a “critical part of the infrastructure” and a key driver of local economic development. Expert panelists Kristin McSwain of the City of Boston Rosemary M Hernandez, MBA, MS of Clarendon Early Education , Jock Payten, CFA of Nubian Square Investment Advisors and Melinda Weber VP, Shared Services MA, shared insights on overcoming challenges and creating opportunities to sustain these essential businesses—key to expanding access to quality care. Key Takeaways: 💡 Family childcare is vital to local economies and family stability. 💡 Tailored support and flexible funding are critical for FCC businesses to thrive. 💡 Clear policies are needed to enable family childcare operations in affordable housing. 💡 Public-private partnerships are crucial to unlocking growth. Together, we can advocate for strategies that work, raise awareness for increased funding, and expand equitable access to quality childcare across the Commonwealth. 👉 Join the movement! #FamilyChildCare #EarlyChildhood #Advocacy #SharedServicesMA #UWMB

Affordable childcare solutions and tips Finding affordable childcare can be challenging, but with the right strategies, you can reduce costs significantly. Here are some tips to help you save on childcare: 1. Explore Government Programs: Look into state and federal programs like Head Start, which provide free or low-cost childcare for eligible families. Check if your employer offers childcare benefits or subsidies. 2. Share Care: Consider nanny sharing with another family to split the costs of a caregiver. Organize a babysitting co-op with friends and neighbors, where you take turns watching each other’s kids for free. 3. Flexible Work Schedules: If possible, negotiate flexible work hours or remote work with your employer to reduce the need for full-time childcare. Partner with your spouse or co-parent to alternate work schedules, minimizing the overlap when childcare is needed. 4. Utilize Community Resources: Take advantage of community centers, churches, and local organizations that may offer affordable or free childcare services. Check for after-school programs or summer camps provided by local schools or nonprofits, which can be more affordable than private options. 5. Tax Credits and Savings: Make sure to claim the Child and Dependent Care Credit on your taxes, which can offset some of your childcare expenses. Consider using a Dependent Care Flexible Spending Account (FSA) if your employer offers one, allowing you to pay for childcare with pre-tax dollars. 6. Home-based Daycares: Look for licensed home-based daycares, which are often less expensive than larger daycare centers but still provide quality care. Visit and thoroughly vet each option to ensure it meets your standards for safety and education. 7. Financial Assistance Programs: Research scholarships and financial aid options offered by daycare centers or educational institutions. Some organizations and foundations provide grants or assistance for families in need of childcare support. By utilizing these strategies, you can find more affordable childcare solutions that fit your budget and provide a safe and nurturing environment for your children. Save on childcare and keep your budget in check! 👶💰 #ChildcareSavings #AffordableChildcare #ParentingHacks #FrugalLiving #MoneyManagement

🚨 The childcare crisis in America has reached a critical juncture, affecting families, workforce participation, and the broader economy. With soaring costs and limited availability, the quest for affordable, reliable childcare has become a herculean task for parents and caregivers, particularly impacting household budgets and early childhood development. 📈 The average cost of center-based infant care now surpasses in-state public university tuition in most states, placing a heavy financial load on families. The childcare sector faces its own challenges with low wages and high turnover, leading to inconsistent care quality. 🔍 In the face of these challenges, federal and state governments are innovating with new strategies to improve the childcare landscape. The Child Care and Development Fund (CCDF) final rule, effective April 30, 2024, mandates increased accessibility and quality of childcare, while states like Massachusetts and Virginia are pioneering policies to meet these new standards. 🤝 Public-private partnerships, workforce development, and regulatory reforms are among the state-led initiatives to enhance childcare services. Notable examples include Washington's Fair Start for Kids Act, Oklahoma's universal pre-K program, Nebraska's childcare tax credits, and Tennessee's partnership grants with private employers like Tyson Foods. 🌟 These efforts are crucial steps towards a sustainable childcare system that supports families, empowers providers, and ultimately strengthens our economy. #ChildcareCrisis #EY #PublicPolicy #Innovation #CommunityImpact https://lnkd.in/d4jsVQjA

$150,000 Tax Credit Per Year - The Employer-Provided Childcare Credit The Employer-Provided Childcare Credit, as outlined in IRC Section 45F, offers a significant tax incentive for employers to support their employees' childcare needs. This tax credit allows employers to claim up to $150,000 per year to offset specific childcare-related costs. The key components of this credit include: 1. 25% of Qualified Childcare Facility Expenditures: - This portion of the credit applies to costs incurred by employers in connection with the establishment, acquisition, expansion, or operation of childcare facilities. - Qualified expenditures can include expenses related to building or renovating a childcare center, purchasing necessary equipment and supplies, and maintaining the facility's operations. - By subsidizing these costs, the credit aims to increase the availability of affordable, quality childcare for employees' children. 2. 10% of Qualified Childcare Resource and Referral Expenditures: - This part of the credit pertains to expenses associated with providing childcare resource and referral services to employees. - These services help employees find suitable childcare options and may include the cost of contracting with a childcare resource and referral agency or providing in-house referral services. - By supporting these services, employers can assist their employees in locating reliable and convenient childcare solutions, thereby reducing the stress and time associated with searching for care. Limitations and Requirements: - The maximum credit available per employer is $150,000 per year. - To qualify for the credit, the childcare facility must meet certain requirements, such as being licensed by the state and complying with all applicable laws and regulations. - Employers must also ensure that the childcare services are available to a broad spectrum of employees and not just highly compensated individuals. Overall, IRC Section 45F encourages businesses to invest in childcare support for their workforce, promoting a better work-life balance and potentially increasing employee retention and satisfaction. By leveraging this credit, employers can make a meaningful impact on their employees' lives while also benefiting from a reduced tax liability. #Taxes #Accounting #TaxAdvisory #EnrolledAgent #SouthFlorida #Accountant #TaxAdvice #Taxprep #SmartTax #taxcredit #taxstrategies #smallbusiness #smallbusinesstax #fortlauderdale

United Way of Central Maryland's Women United membership network is making strides in addressing the childcare crisis, which disproportionately affects women of color. The average cost of childcare in Central Maryland for two children is $1,800/month, often higher than a family's housing costs. This issue has significant implications for working parents, who may miss work, get fired, or choose to leave the workforce due to lack of childcare. In 2024, Women United members joined forces with United Way staff, volunteers, and families to advocate for legislation to reduce the turnaround time for background checks for qualified staff in Maryland childcare centers. This is just one of the ways that Women United is working to break down barriers to childcare and support local working parents. Join United Way's 2024 Women's Forum, hosted by Women United, to learn more about the challenges parents face with childcare and how to help local working parents get the support they need. The event will feature a panel of local experts and interactive activities, as well as a networking happy hour. What are your thoughts on the childcare crisis and how it affects working parents? How can we work together to ensure that all families have access to quality childcare? United Way of Central Maryland's Women United focuses on childcare and education in 2024. The group advocates for legislation to address childcare staffing shortages, aiming to improve access and affordability for working parents. https://ow.ly/aA5f50TsqjS

Untapped Potential. A study that all business owners/leaders must read.

Raising a family takes a village. And sometimes, part of that village is paid childcare… As a mom who has chosen to continue to work outside of the house, I have been on the receiving end of judgements and backhanded comments about sending my kids to daycare. Whether these comments are playful or not, they shed light on an ongoing problem in our society, where mothers are made to feel bad for going back to the workforce after having kids. It's time to change the narrative for working moms, and I know that this is part of my mission. Every mother has different circumstances, values and needs, and whether they go back to work or not and what they choose for childcare (if any) is nobody else’s business but their own. This is a call for mothers everywhere to stand together, support each other and seek to understand without judgement. Know that whether or not she chooses to continue to work or stay at home, and whatever she chooses for childcare, has no reflection on how good of a mother she is or how much she loves her kids. We are all doing our best in motherhood. And while we may have different parenting styles and choices, one thing that unites us all is wanting our kids to be happy and feel loved. The best thing we can do for our children as mothers is to THRIVE. To prioritize our own wellbeing, joy and fulfillment, so that our kids get to experience the absolute best version of ourselves. #motherhood #workingmoms #workingparents #mothersunite #professionalmoms #childcare

The Institute for Fiscal Studies (IFS) has announced that new childcare funding will save families an average of £3,600 annually. This initiative is part of the second phase of childcare provisions introduced by former Chancellor Jeremy Hunt. The funding aims to alleviate the financial burden on families with toddlers, making childcare more affordable and accessible. Key Highlights: 1. Significant Savings: Families with young children will benefit from substantial savings, easing the cost of childcare which often exceeds mortgage payments for many households. 2. Targeted Benefits: While the funding is a welcome relief, it is noted that higher-income families who are already utilising childcare services will benefit the most. This raises concerns about equitable access and support for lower-income families. 3. Phased Implementation: The rollout of the new funding is gradual. Starting this month, families with toddlers will begin to see the benefits. However, full implementation will take time, with some parents having to wait until September 2025 to access the promised 30 hours of free care for all children under five. 4. Policy Background: This funding is part of a broader strategy to support working parents and encourage more parents, particularly mothers, to return to the workforce. The government estimates that the policy will save a family with a two-year-old child an average of £6,500 a year when fully implemented. 5. Additional Support: In the interim, parents can utilise existing schemes like “tax-free childcare,” which offers a 20% tax break on childcare expenses, providing up to £2,000 per year per child. https://lnkd.in/gVbJGsdA #Childcare #WorkingParents #ChildcareSupport

Families are drowning in childcare costs, while corporate America is losing billions of dollars. My focus here is on childcare; however, research has brought to light that high-quality, affordable care—including childcare, elder care, and care for the sick—is essential for a thriving economy. “The childcare crisis should be a major red flag for everyone, not just parents. It is a systemic failure that will impact our nation’s economic growth, and that affects us all,” said Brad Wilson, CEO of Care.com. “Within the first five years of their child’s life, parents are being forced into a financial hole that is nearly impossible to climb out of.” Families nationwide are struggling with the soaring costs and responsibilities of childcare, which result in an estimated $122 billion annually in lost earnings, productivity, and revenue (ReadyNation). Many women and increasingly more men are scaling back on work or leaving the workforce entirely due to care responsibilities. The strength of our workforce is directly tied to the robustness of the care economy. Daycare facility rates are based on location, but if you live in metropolitan areas like Boston, NYC, Honolulu, Washington, D.C., Chicago, Los Angeles, or San Jose, you pay the most. Annual costs vary, but infant care in New York, NY, starts at $21,000, while care for a 4-year-old averages $17,000. Nannies can be twice as much! Bolstered by a pivotal BCG 2023 study, employers are realizing that childcare is a critical business issue. Why? Difficulty in attracting and retaining employees impacts the bottom line. BCG found that by adding childcare benefits, every company in its study saw significant returns in recruitment, retention, and productivity. They quickly recouped the full annual amount of their childcare benefits expenses by preventing just a few employee departures. Corporate America needs to step up NOW. Offering childcare benefits makes 100% sense financially and strategically. Monthly childcare subsidies for children aged 4 months through 4 years (reflecting local living costs) will prevent departures, reduce absences, and foster loyalty. #childcare #care.com #linkedin #workingparents #benefits #BCG #ReadyNation #CorporateResponsibility #presidentialdebate2024

"The bottom line: Childcare has a significant impact for business in terms of attraction, retention, discretionary effort and performance." That's why we're uniting the business community around childcare solutions at the Florida Chamber of Commerce. Want to know more? Please reach out! Thanks, Roben Faircloth for sharing this article with me: https://lnkd.in/esAsdr4y!