Some benefits you can count on by claiming children.
Tax Exemption - Each child you claim as a dependent gives you an exemption ($4,050) you can deduct from your taxable income.
Child Tax Credit - The Child Tax Credit is $1,000 per qualifying child.
Child and Dependent Care Credit - The credit is worth anywhere from 20% to 35% of your qualified expenses, up to $3,000 (for one qualifying person) and $6,000 (for two or more qualifying persons). Your percentage depends on your AGI, with the higher percentages applying to lower incomes and vice-versa.
Earned Income Credit - Although someone who has no children can get $$$ back with the Earned Income Tax Credit, it primarily benefits people with children.
