EyeSpy
|
Sometimes ... most people will say yes ... but if you make a large annual income anyway, then the child will have little to no effect on your taxes. It might reduce what you pay in a bit. Those saying yes, normally are the ones getting back $1,500-$5,000 checks in the mail from the IRS for EIC.
You need to sit and talk with a tax preparer to see exactly what sort of benefit, if any, claiming your children for EIC will do for you tax wise. |
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BobbyD
 |
Yes, but the amount of the break depends on your income level. Everyone gets a deduction for every dependent. If your income is low enough you may also qualify for "earned income" credit. Not big bucks but every little bit helps. |
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Bb
|
yes you get a certain amount to deduct per child. you also get a deduction for daycare and preschool expense. If u itemize you are better off with a cpa doing your taxes so u get the most breaks you're supposed to get. |
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Anna Hennings
 |
Having three children of my own, I can tell you that with each child you are allotted a specific monetary deduction. I believe one year it was $2100 per child. It is also rumored that if you have 6 children or more the family becomes tax free. I don't know if that's true, and I have no desire to test it by having 3 more children. lol |
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Judy1
|
Yes, if you would owe any taxes, they'd be reduced or eliminated depending on your income. And it can improve your eligiblity for an earned income credit, again depending on your income. |
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wishbone13569
|
Hi,. ,I think people with children should pay more taxes,.,.
good luck thanks |
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Chillin-it
 |
Yes you do. |
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FLORIDA
|
well I know you get more money back...it's called the EIC.If you have a relative that doesn't work who has a kid you can claim them on you income tax and get back an extra grand. |
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manda
 |
yes. |
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MaryBeth
 |
Yes,I have four...and that is the ONLY break I get!
(half-joking.) |
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?
|
yes |
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NNY
|
a little |
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sephiroth48415
|
yes |
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angel007
 |
yes. |
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HotInTX
|
For each one you pop out each year before December 31st! And you're able to claim each one as a deductible so long as no one else does that tax year! Happy tax returns! |
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Donna
|
No. My husbands ex gets it in back child support. |
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Bubbles
|
yes (thank goodness) |
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Marcie E
|
Can we say " Earned income Credit" Much money! :) |
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momof3
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oh yeah, pretty nice one too! |
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TrofyWife
|
Yes. I think last year it was $300/kid or so. Maybe I should have more, lol |
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Golly Geewiz
|
if thats what you want to call it |
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skcs69
|
Yes. |
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united9198
|
Absolutely. Claiming dependents can provide huge tax breaks. |
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KANDY_GIRL
|
yes!! and youllget more cash back search the internet for info,cause you no tax is coming soon i wish i had a kid to get some extra $$$ i could use it!!lol |
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kja63
|
Yes you do, a substantial one.
One of the many things that are unfair about our tax system. If you have a child, you get a tax break. But if you have no children, you still have to pay school taxes. Go figure. |
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the Boss
|
yes |
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kalamity
|
Yes in the form of exemption if they qualify as your dependents. |
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darkpheonix262
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in this day of over population those who dont have children should get a tax break |
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Rvn
|
Only until they turn 17. Then, when they experience the most expensive year of their lives so far -- senior in high school -- you get NOTHING. |
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