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Tax Return question
Posted on 1/21/15 at 11:25 am
Posted on 1/21/15 at 11:25 am
So my wife and I had our second kid last year. With most other variables pretty close to the same can I expect my tax return to be noticeably higher or will it not make that much difference?
3
Posted on 1/21/15 at 11:27 am to RandySavage
when I went from 2 to 3 I don't remember much difference
Posted on 1/21/15 at 11:31 am to RandySavage
Don't you receive a $1,000 tax credit per child???
Posted on 1/21/15 at 1:03 pm to RandySavage
Depends on your level of income. You may get an extra $1,000 child tax credit, and an extra dependency exemption of $3,950 which reduces your income, not your tax. You may also get additional credits for child care.
Too many variables to give a distinct answer.
Too many variables to give a distinct answer.
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