Saturday, July 31, 2010

Will I still get a large child tax credit if I file married but seperate?

My husband makes quite a bit more than I do and we just got married in April this year. So should we file married but separate or jointly. Do we still get the large child tax credit if we file seperately?Will I still get a large child tax credit if I file married but seperate?
You might or might not get as large of a child tax credit if you file separately. If you are asking about EIC, Earned Income Credit, you aren't eligible at all for it if you file separately.





Your choices are a joint return, or marrried filing separately. A joint return will almost surely be better for you.Will I still get a large child tax credit if I file married but seperate?
Your lower income will dilute his higher income allowing to total to be taxed at a lower rate. You can figure your taxes both ways, but it is almost guaranteed that filing jointly will be the best for you.
Child tax credit will only lower you taxes by up to $1,000. It is not a refundable credit.

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