Raising kids is expensive. By my estimate, it can cost close to $500K to raise a child, including college, in expensive parts of the country like the Bay Area. So, it’s helpful to know that there are certain tax advantages to having kids. A few of the more common ones are outlined below.
Do you struggle with finances? Are you contemplating going back to work or seeking a pay raise to help pay the bills? Do you miss those pre-kids’ days with expendable income? I know a number of families in this situation.