re: First Child/ How does it impact tax return

$3800 deduction, EIC, can qualify for childcare if you put your baby in daycare. Rattling off what I've learn thus far in my Income Tax class this semester. Basically, having a child does benefit your taxes/having dependents to an extent. I think that once your child goes to school you can potentially get credits for that if they go to a private school. Don't fully believe everything I say though...I'm an Accounting senior graduating in May. I still have a lot to learn to even understand half the jargon that is posted by the experts on this board .