There’s no better joy than bringing a child into this world. From their first words to sending them off to college and everything in between, children bring unending happiness to our lives. However, taking care of a child (or multiple children) for 18+ years can get pretty expensive. Food, clothes, healthcare, education, you name it—raising a child costs a lot of money. Fortunately, the Child Tax Credit was introduced to help offset the cost of parenting and to expand opportunities for children—especially for those in low- to middle-income families. Depending on your income level, you may qualify for up to $2,000 per child with the Child Tax Credit. To learn more about ways you can save money with the Child Tax Credit, explore our tax preparation services or continue reading below.
- What is Child Tax Credit?
- How to determine if a child qualifies
- How to apply for the Child Tax Credit
- How much do you earn from a dependent?
- Which parent should claim a child on taxes?
- Who qualifies for the head of household?
- In Conclusion