The Joys of Parenting – Tax Edition
Several tax benefits for new parents to be aware of, designed to ease their financial burden: One of the most significant is the Child Tax Credit (CTC) , which allows parents to reduce their federal income tax for each qualifying child under the age of 17. For the 2025 tax year, the credit can be up to $2,200 per child. This is a refundable credit, so even if your tax burden is $0, up to $1,700 will be paid to qualified taxpayers. Another important tax benefit for new parents is the Child...
