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Tax Credits for Baby

Mommy's Lil Helper: Tax Credits Thanks to Baby

You're over the moon in love with your wee one, but you might have three more reasons to adore her. If your family income is considered low or moderate, you may qualify for three tax credits thanks to baby.

The IRS outlines the following credits: To see what they are,

.

  • Child Tax Credit – If your child is under 17, you may qualify for the Child Tax Credit. Check the guidelines to see if you are eligible.
  • Education Credits – There are two types of tax credits that fall under this category. The Hope Credit and the Lifetime Learning Credit can be deducted in full from the federal income tax, not just from taxable income.
  • Child Care Expense Credit – If you have a caretaker for a child under 13–years–old, you might be able to take the Child Care Expense Credit.

Tax season is upon us and while it's no fun filling out the forms, it might be a tad less painful if you know how to save a buck or two. Thank you baby!

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d9rlcb d9rlcb 8 years
That is such a cute picture! What a cutie
Advah Advah 8 years
That baby's super cute! :) And she also looks exactly like the one on the "friends become family" post pic (or is it just me?)
Advah Advah 8 years
That baby's super cute! :) And she also looks exactly like the one on the "friends become family" post pic (or is it just me?)
kjk kjk 8 years
Cutest baby ever!!!
kjk kjk 8 years
Cutest baby ever!!!
Novaraen Novaraen 8 years
YAY...i qualify!! I have two 2yr old boys and we pay for daycare!! I could certainly use the tax break!!! whew!!! That baby in the picture is such a cutie-patootie!!!
Novaraen Novaraen 8 years
YAY...i qualify!! I have two 2yr old boys and we pay for daycare!! I could certainly use the tax break!!! whew!!!That baby in the picture is such a cutie-patootie!!!
DesignRchic DesignRchic 8 years
Ha, what a great picture! :LOVE:
DesignRchic DesignRchic 8 years
Ha, what a great picture! :LOVE:
books-and-shoes books-and-shoes 8 years
The child tax credit and the childcare credit are always a big help for us around tax season!
Moms Moms 8 years
Get that baby an agent!
Moms Moms 8 years
Get that baby an agent!
Angelica Angelica 8 years
Lovvve the pic. It looks like she's about to run off and buy out the store.
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