$Cost of Parenting

Taxes

Child Tax Credit Calculator

Tax credits can reduce the annual cost of parenting, but they should be treated as an annual adjustment rather than monthly cash unless your withholding is planned around them.

Benefits to model

  • Child Tax Credit
  • Child and Dependent Care Credit
  • Dependent care FSA
  • State-level tax credits and deductions
  • Earned Income Tax Credit where applicable

Important caveat

Tax rules change. This page should eventually pull from maintained tax tables and show the exact tax year in every calculator result.