brit306
Jan 3, 2007, 04:23 PM
I was just wondering how much money you get back per child on taxes this year.
brit306 Jan 3, 2007, 04:23 PM I was just wondering how much money you get back per child on taxes this year. AtlantaTaxExpert Jan 3, 2007, 04:59 PM Each child's exemption is a deduction of $3,300. If you are in the 10% tax bracket, that means $330 less in tax per child. However, each child under age 17 is also good for $1,000 Child Tax Credit. Plus, if you make less than about $32,000, your family will qualify for an Earned Income Credit. If your Adjusted Gross Income hits about $225,000, you begin to LOSE all the personal exemptions for yourself and the children. J_9 Jan 3, 2007, 05:00 PM What is the EIC amount this year? AtlantaTaxExpert Jan 3, 2007, 05:12 PM I cannot tell you that off the top of my head. It depends on: - Your total income. - How many children are involved. - Age of the children. - Your marital status. Provide that information and I can do a rough calculation. Copyright ©2005-, Ask Me Help Desk
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