kid tax question

[LivingAlmostLarge]

What is the tax benefits for having kids? Are there any?

[jIM_Ohio]

additional deductions
child tax credit
if you qualify... higher earned income tax credit

if you need the amounts, look them up at fairmark (amounts change each year).

[LivingAlmostLarge]

Thanks!

[jIM_Ohio]

to be exact, looked up on fairmark
Form Finder: Your Family

exemptions for kids (and adults)

Personal exemption $3,650 per person
child tax credit ($1000 per kid)

you need to "qualify" for the tax credit, most middle class earners should qualify (married under 110k and single under 75k).

[kv968]

What is the tax benefits for having kids? Are there any?

Living, trying to reduce your tax bill? There are easier ways ya know

[LivingAlmostLarge]

Wish we had had her last year, but oh well, bad timing on my part.

[daviddane]

I had decided not to have any kids but now i am very confident about having them as it will be beneficial for me.