Since we do not have a mortgage, our child is one of the biggest tax breaks we have. Here are the tax breaks for which we qualify or have qualified:
Here are some addition child related tax breaks which we haven't used:
Before I was married, I just had mortgage interest and charitable donation deductions. After getting married, our tax breaks didn't change much. After adopting our daughter, we receive a one time tax break and three on-going tax breaks. In the future, we will probably qualify for an education tax credit if it still exists.
For more on Crossing Generations, check back every Thursday for a new segment.
This is not financial or tax advice advice. Please consult a professional advisor.
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