LIFE MILESTONE: WELCOMING A NEW CHILD

  • Welcoming a New Child: Welcoming a new child into your life is a great joy, but it also means big financial changes. These young family members can affect your tax situation.

    Parents may qualify for one or more tax credits or deductions. Adjust your withholding to compensate for these life changes. Not doing so could result in more funds being withheld than necessary. (AICPA)