We will have a new baby by the end of this year and we were wondering about the law regarding claiming the new baby on the upcoming taxes?:confused:

As long as the baby is born prior to midnight 12/31 you can claim it as a dependent for 2007.

I knew an accountant who had 4 kids all born in December.

You know, that makes sense!

The accountant is working ungodly long hours in February and March, and would tend to connect with his/her spouse during these stressful times as a form of release.

Since such encounters are catch-as-catch-can, it would make sense that little planning is involved.

He told me he planned it that way.

I doubt that, not if he has a practice/job that works tax returns.

He worked as an accountant in a corporate accounting dept.

As Scott said, as long as the baby is born before the 1st of January you can claim the child on your taxes for this year.

My daughter was born on December 31st at 6:02am and I claimed her... no questions will be asked... it's simple really :)

Yes, so at 11 pm, remind her "push" "push" Of course there is normally some nice gifts in many hospitals for first baby of the year, one minute after midnight, so you may want to weight the options

Yes, so at 11 pm, remind her "push" "push" Of course there is normally some nice gifts in many hospitals for first baby of the year, one minute after midnight, so you may want to weight the options

Yeah you don't know how many people asked me "oh you had her on New Year Eve, why didn't you wait and have her be the first baby of the year?"

Obviously those people have never had children... you don't just "wait". LOL!

A corporate accountant is not a REAL accountant; they have regular hours! :-)

If the child is born on or before Dec. 31, 2007 then (s)he is a legal dependent and can be deducted from your 2007 taxes.

Agreed!