Due to the fact that this is a public forum, you cannot give me enough information to answer that question. I can tell you how much certain tax benefits provide.
- The exemption is 4,050 dollars per child. This is a deduction from your taxable income so somewhere usually between 10-25% of each exemption is the actual dollars saved. For example, in the 10% bracket each exemption saves you 405 dollars.
- The child tax credit is 1,000 dollars for each child under 17. This is a credit meaning it is a dollar for dollar tax benefit. The credit is worth 1,000 dollars per qualifying child
- The child care benefit is based on your expenses and a percentage based on your income. Form 2441 will give you the specifics about the credit if it applies to you.
- The earned income credit is generally based on the number of children that you have and your income level. If you have one child, the credit is a maximum of 3,373 dollars, two children - 5,572 dollars, and three or more children - 6,269 dollars.
