Keyword Analysis & Research: new child tax credit 2021 income limits


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How much does dependent reduce your taxes?

Dependent Tax Deductions. Each child and dependent can bring you a deduction of $4050. This means that the income that is subject to federal tax is reduced. If you are in the 15% bracket, this could save you $607.50 , and those in the 25% bracket could save $1012.50 .


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