Pingry has recently added a middle school building to the Basking Ridge Campus. In early 2007, Forms I and II (grades 7 and 8) moved into the new building. Grade 6 was moved from the Short Hills campus to this new facility at the beginning of the 2007-2008 school year.
To get an idea of how much dependent children can reduce tax liability, consider a married couple filing jointly, with a total annual income of $50,000, who have two qualifying children. Claiming the two children as dependents reduces their taxable income to $41,900. The EIC then provides a tax credit of $5,616, and the child tax credit provides an additional $2,000 credit, bringing their taxable income down to $34,284. Qualified Dependents
Claiming a child on your tax return can lower your taxes and raise your refund. You can claim a âqualifying childâ or âqualifying relativeâ as dependent. A âqualifying childâ can also be claimed for the EITC (Earned Income Tax Credit). There are 3 ways that claiming a child can help on your taxes.