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Home > Money & Services > Taxes   »   H1 and H4 tax exemption

 
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Old Dec 31, 2007, 10:03 AM
chrishrock
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H1 and H4 tax exemption

Hi,
I am presently living and working in the US with my wife and kids since January 2007 ,i have a H1 visa and they have H4s.

How will i be able to receive tax credits for them when filing my tax returns for 2007 as you should be aware they are inelegible to obtain SSS#.

I an a real novice when it comes to the tax as it relates to non-resident worker.
With Thanks
Chrishrock

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Old Jan 1, 2008, 07:26 AM   #2  
AtlantaTaxExpert
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ChrisRock:

You will MOST likely file jointly with your wife, and you WILL be able to claim your children as dependents.

You will also be able to claim the $1,000 Child Tax Credit, UNLESS you made too much money.

You will have to submit Form W-7 and a notarized photocopy of their passport for your wife and each child to get an Individual Tax Identification Number. These documents are submitted WITH your 2007 tax return.

If you need professional help, contact me at [email address]. You will find my fees most reasonable.
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Old Jan 2, 2008, 01:15 AM   #3  
MukatA
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Yes, Chrisrock will file his 2007 tax return as resident (for tax purpose). He can file as Married Filing Jointly or Married Filing Separately.
Married Filing Jointly is normally the best option. They will claim the children as dependent.
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Old Jan 3, 2008, 09:36 AM   #4  
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If he files separately, then he will probably have to file a dual-status return.

Filing jointly is almost always better.
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Old Jan 3, 2008, 10:28 AM   #5  
chrishrock
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Thanks Atlanta Tax Expert,
But what do you mean by if i make too much money?
I presently earn $73,000.00 per year, would this amount prevent me from receiving any tax return when i file.
With Thanks
Chrishrock
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Old Jan 3, 2008, 12:11 PM   #6  
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The Child Tax Credit begins to phase out when the joint return's Adjusted Gross Income hits about $125,000.

At $73K, you have nothing to worry about.
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