This will be our first tax check with baby and I'm not sure what to expect. I claimed her as a dependent after I had her, and I took 8 weeks of STD for maternity leave untaxed. I usually get a pretty decent refund, so I'm hoping we'll still get enough back to be able to replace our roof this spring. Can anyone tell me how having a baby affected their tax refund?
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@jennylynn: I am interested in this as well!
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I know a lot of it depends on if your meet the income criteria for earned income credit.
We exceeded the income limit, but still got back double than what we normally would have, but also had deductions such as house interest and student loan interest.
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There are too many factors that play into taxes to really provide you information that would be meaningful.
Our LO was born in August of 2011 and it had minimal impact to our taxes. We had another dependent but there wasn't any other significant impacts. Neither of us added her as a dependent for our tax withholdings (adding dependents to your tax withholding for your employer decreases the taxes withheld from your paycheck, which will typically result in a smaller return).
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Like @mamag said there are a lot of factors that play into taxes.
But filing married & joint offers the largest tax deductions, and for every dependent you claim, it reduces your taxable income, which in turn can add up.
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