Monday, December 26, 2011

Baby Due: Child born one minute before midnight on December 31, 2015 can make a difference of $5,000 in tax refund

Article 12 Volume 1                                       Updated and re-published: December 31, 2015

The Baby is Almost Here!

A father's plea:  Doc can our baby be delivered at 11:59 p.m. on December 3l, 2015 instead of 12:01 a. m. on January 1, 2016?  You may ask what difference does it makes? Well, if the baby is born in 2016 you may get the baby and your picture in the local newspaper.  The baby may be recognized as the first born in the region for the new year and the parents receive a bouquet of flowers.

However, this is the flip side, if the baby is born in 2015, before midnight, and the parent or married couple income is at a certain level, the family may qualify for the following: (1) an additional dependent (2) $1,000 child tax credit ( credit is cash, not a deduction), and (3) possibly an additional $3,000 in earned income credit (real money).  Then, when the State taxes savings are factored in, the parent(s) could possibly be receiving even more in tax savings.

(This report continues below in Article III, Volume 1 or google, baby due soon.All in All.grady bryant ) Do not use .com

Last year several parents from all over the country were happy to receive this news before their child was born.

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