anyone know about taxes.....adding dependent

jchoo24@aol.com · February 2013

My husband and I owe every year and I am nervous because we are now adding someone new to our family....

also I am taking STD for 6 weeks....will I owe because of this.

Any advice is greatly appreciated. I am such a dope when it comes to this stuff.

thanks!!!!

SarahRae85 · February 2013

No idea about the STD affecting things, but generally adding a dependent lowers what you owe in taxes. There are various credits you may qualify for (depending on your income).

Because my husband is paid hourly, we're always nervous the taxes may not work out in our favor, so we actually claim one less dependent on his W-4s (with two kids, he can claim 4, he only claims 3), which means when we file our taxes and claim the extra dependent (all 4) we're more likely to have overpaid than underpaid and are basically guaranteed we will not owe. For us it's an extra $5-600 taken out of the check each year, but only about $50/month.

NBBride05 · February 2013

I always use Turbo Tax for this reason. It asks if you have had a child during the year and then leads you to the appropriate questions, etc.

kateryna72 · February 2013

Just another tax tip, I read somewhere recently that if you are a working mom you can deduct the cost of a breast pump. Of course if your breast pump is covered by insurance, that probably won't work. However, you might be able to find some other baby related costs that you can deduct next year if you do a little digging!

jchoo24@aol.com · February 2013

thanks everyone.....all of your advice was helpful!!!! xo Best of luck to you all!!!xo

anyone know about taxes.....adding dependent

Re: anyone know about taxes.....adding dependent

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