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Deductions & credits
It would take a little effort but you could figure out how much tax benefit one kid gets you.
You get:
$4050 x your marginal tax bracket rate
Up to $1000 Child Tax credit (see lines on tax forms referenced above)
EIC from this table (<a rel="nofollow" target="_blank" href="https://apps.irs.gov/app/vita/content/globalmedia/earned_income_credit_table_1040i.pdf">https://apps...>) less the amount on the table for one less kid
You get:
$4050 x your marginal tax bracket rate
Up to $1000 Child Tax credit (see lines on tax forms referenced above)
EIC from this table (<a rel="nofollow" target="_blank" href="https://apps.irs.gov/app/vita/content/globalmedia/earned_income_credit_table_1040i.pdf">https://apps...>) less the amount on the table for one less kid
‎June 6, 2019
7:21 AM