First off, a child gives you +1 on the "Exemptions" line.
Next, there is the line 53 "child tax credit" which is usually good for $1k.
There are also a few $$ that can be saved on line 66 (EIC) and 68 (additional child tax credit) but those will vary with income/employment/daycare/etc..
In the long run, yes you will pay out the a$$ for kids, but between the joy and pride you get from raising them, it's a nice little pat on the back when Uncle Sam gives you back an extra grand at the end of the year
It makes a nice little deposit in the college fund! (or car fund depending on how you want to spend it)
Since my first child was born last year, my eyes were opened when I filed this past time!!
-Nick
P.S. As my wise elders always told me: "If you wait to be financially stable before you have children, you will never have any"
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Owner: Bennington Motorsports
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Sponsor for Midwest Region 944-SPEC racing series
-When was your timing belt changed or tensioned??
-Yes, I'm the crazy man that will loan out my 9201. Just PM me, I will add you to the list and get it out ASAP.