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
The Basics of the Child Tax Credit. You can claim the child tax credit for each of your children under the age of 17. Some other rules apply as well, so all your dependents may not necessarily qualify. Qualifying for and claiming the child tax credit can reduce any tax you owe to zero.