|new child tax credit 2021 income limits||1.38||0.7||8187||66|
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 .