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    lunamccalla's Avatar
    lunamccalla Posts: 1, Reputation: 1
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    #1

    Dec 9, 2007, 11:05 PM
    How much do we get for a child and wife on taxes
    How much do we get for a child and wife on taxes
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Dec 10, 2007, 12:08 AM
    Are you a U.S. citizen or resident or a foreign person? If are a foreign person, then what is your visa type and since when you are in the U.S. The rules depend upon you resident/nonresident status.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #3

    Dec 10, 2007, 01:55 PM
    If you file jointly with your wife, your stnadrad deduction DOUBLES from $5,300 to $10,600, plus you get to claim a $3,400 exemption for your wife AND your child.

    So the total additional tax exemption for wife and child is $12,100.

    Further, you are taxed under the Married Filing Jointly tax table, which is TWICE as good as being taxed either SINGLE or Married Filing Separately.

    Finally, the child may be eligible for the $1,000 Child Tax Credit.

    So the tax advantages for claiming your wife and child are raher significant.
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #4

    Dec 11, 2007, 10:58 PM
    This is true if both you and your wife are resident for the tax purpose.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #5

    Dec 12, 2007, 09:15 AM
    Noted!
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