How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Merlo Your Own Question
Merlo
Merlo, Accountant
Category: Tax
Satisfied Customers: 9783
Experience:  25+ years tax consulting. Specializing in returns for US citizens living abroad
9573734
Type Your Tax Question Here...
Merlo is online now
A new question is answered every 9 seconds

who will get more money back for claiming a child

Customer Question

who will get more money back for claiming a child? someone who makes 20,000 all year or 45,000?
Submitted: 8 years ago.
Category: Tax
Expert:  Merlo replied 8 years ago.

HelloCustomer

Starting in the tax year of 2008, each personal exemption that you claim gives you a deduction of $3,500 against your taxable income. The person with the income of $45,000 will be in a higher tax bracket than the person with the income of $20,000, so there will be a bigger tax advantage if the person with the higher income can take the deduction.

If two individuals were both in the same tax bracket, there would be no advantage from one over the other claiming the deduction.

If this was helpful, please press the Accept button. Positive feedback is also appreciated.

Thank you.

Related Tax Questions