All parents are familiar with the high cost of raising children. But did you know that your children may help you to qualify for some income-tax benefits? Here are some tax benefits the IRS wants parents to consider when filing tax returns this year.
1. Dependents. In most cases, a child can be claimed as a dependent in the year they were born. For 2017, each dependent child reduces $4,050 from your taxable income, thereby increasing possible income-tax refunds.
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