My husband and I(both working, own a house) live in the state of CA. Are there any tax breaks for having a child?
2007-03-13 16:49:58 · 6 answers · asked by newmomma 3 in Business & Finance ➔ Taxes ➔ United States
You get a dependency exemption for each child. Exemptions reduce your taxable income by $3,300 (for 2006).
Depending upon your income, you may or may not be eligible for the EITC. Most two-earner homeowner couples in CA would make too much money to qualify.
You also may qualify for the Child Tax Credit, which is worth up to $1,000.
2007-03-13 17:47:39 · answer #1 · answered by Bostonian In MO 7 · 2⤊ 0⤋
NO ... California does not offer the Earned Income Credit on the State Tax Return ... but for the Federal Tax Return it should.
2007-03-13 17:30:03 · answer #2 · answered by Anonymous · 0⤊ 1⤋
Yes its call EIC (earned income credit) and here in Montana its around $2,500 to $3000 per child.
2007-03-13 16:53:10 · answer #3 · answered by callmecouture 3 · 1⤊ 3⤋
i dont think so but yea do get more money back in Cali when u claim children on your income tax, try to claim more then one child you will get more money back even if its someone elses child!!!!
2007-03-13 17:33:13 · answer #4 · answered by Lil Aquarius 3207 2 · 0⤊ 2⤋
What I would like to see is a tax break for not having a kid.
2007-03-13 16:52:56 · answer #5 · answered by Anonymous · 1⤊ 4⤋
you sorry slut!
2007-03-13 16:51:32 · answer #6 · answered by ? 1 · 0⤊ 4⤋