Claiming a son or daughter or other dependent can lower your tax bill in 2025 in fouཧr key ways. You don’t want to miss out on these important tax-saving opportunities. After all, you’ve earned them by supporting a dependent throughout the tax year.

“Claiming a dependent isn’t just about tax savings—it’s about maximizing your financial opportunities. Whether a taxpayer qualifies for child-relaඣted tax c꧋redits, tax-deductible expenses, or a lower tax bracket, strategic tax planning can alter your tax bill and boost your refund,” says , a certified public accountant and founder of Birch Street Financial Advisors.

It’s easy to 澳洲幸运5官方开奖结果体彩网:claim a dependent on your tax return. You’ll just need to follow the simple rules for dependents laid out by the 澳洲幸运5官方开奖结果体彩网:Internal Revenue Service. Once you knowꦰ y🐬ou qualify, you can go about scooping up tax savings.

Change Your Filing Status

By claiming a dependent, you may be able to change your filing status to 澳洲幸运5官方开奖结果体彩网:head of household. Just this one change can give you a lower 澳洲幸运5官方开奖结果体彩网:tax bracket and a higher 澳洲幸运5官方开奖结果体彩网:standard deduction.

“If you’re unmarried and supporting ꦗa dependent, you may qualify for head of household status. Some of the highlights include a preferential tax bracket and a higher standard deduction,” Burke says.

“For example, if you’re a single parent making $80k in household income with two dependent children, you can qualify for head of household status vs. single, which could save an additional $2,500+ in taxes du🃏e🌠 to lower tax brackets.”

Get the Child Tax Credit

If you have children younger than 17, you may qualify for the Child Tax Credit.

“The Child Tax Credit (CTC) is a tax credit for eligible families with dependent children under age 17 at the end of the tax year. Ta🌸king the credit can help lower your tax bill dollar-for-dollar—and depending on how mꦿuch you owe, it may take your taxes owed down to zero,” says Alison Flores, manager with .

But first, you’ll need🦋 to meet the requirements.

“Like many tax benefits, you must meet certain requirements before you can claim the Child Tax Credit. These include details about the dependent child, the relationship between you and the child, and your income,” Flores says.

Get Education-Related Tax Benefits

If you are supporting your dependent as a student, you may qualif꧃y for tax credits for the qualified education expenses that you’re making.

“By claiming your dependent, you may be eligible for the 澳洲幸运5官方开奖结果体彩网:American Opportunity Tax Credit, up to $2,500 per student, or the 澳洲幸运5官方开奖结果体彩网:Lifetime Learning Credit, up to $2,000 per return,” Burke says.

Itemize Deductions

This is an important step to take if your dependent has a number of medicaꦬl expenওses for which you are paying.

“When claiming a dependent, you can also claim their medical expenses as an 澳洲幸运5官方开奖结果体彩网:itemized deduction. This can be a dramatic tax sav♐ings when your elder🅷ly parent can be claimed as your dependent and they have large medical expenses you pay on their behalf. Their medical expenses can be added to yours,” Burke says.

The Bottom Line

If supporting children and other relatives is a big part of your life, you’ll want to cash in at tax time. Claiming a dependent can drastically lower your tax bill. So 🌠don’t hesitate to claim every benefit for which you qualify. Even changing your filing status to head of household can have a big effect on your tax bill.

Reach out for tax credits, such as child and education credits, and check if itemizing your deductions will help to lower your tax bill. All these things can slash a big tax bill to a small one.