I'll be a new mommy this year, and so next year I'll be able to claim him. So I was just wondering.
2007-02-19 02:21:56 · 5 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
you guys are helpful! :) thank u so much!
2007-02-19 02:27:45 · update #1
Depending upon your income level, there could be several things, all of which reduce your taxes.
1. The child could be your dependent. (I don't know your situation, who is father,etc.)
2. If your income is low enough you might qualify for child tax credit.
3. If you work and your income is low enough you might qualify for "Earned Income Credit".
4. If you pay for child care so you can work, you may qualify for child care credit.
2007-02-19 03:21:05 · answer #1 · answered by Ovrtaxed 4 · 0⤊ 0⤋
There are at least two credits, one that's at least $1000 for having a child as a dependent, and another variable amount for child care if you have expenses for that.
2007-02-19 10:26:30 · answer #2 · answered by christopherika 1 · 0⤊ 0⤋
1 child is a $1000. plus then your taxes by them self
2007-02-19 10:26:04 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It really depends on how much your income is, EIC is a biggy. You could get head of household, plus all your child credits
2007-02-19 10:34:49 · answer #4 · answered by Kimberly L 2 · 0⤊ 0⤋
At least $1000 more.
2007-02-19 10:25:17 · answer #5 · answered by Anonymous · 0⤊ 0⤋