Latin Meaning: The name Russell is a Latin baby name. In Latin the meaning of the name Russell is: Red haired. American Meaning: The name Russell is an American baby name. In American the meaning of the name Russell is: Red haired.Anglo-Saxon Meaning: The name Russell is an Anglo-Saxon baby name. In Anglo-Saxon the meaning of the name Russell is: Fox.he name Russell is an American baby name. In American the meaning of the name Russell is: Red haired. Anglo-Saxon Meaning: The name Russell is an Anglo-Saxon baby name. In Anglo-Saxon the meaning of the name Russell is: Fox.
The dependent exemption is not the only tax break that parents can claim. Provided that your income is below $110,000 for married couples filing jointly, $75,000 for a single head of household, or $55,000 for a married person filing separately, you can also claim the child tax credit. The child tax credit trims your tax bill by $1,000 per child.
The Child Tax Credit is a significant tax credit for those with qualified dependent children under age 17 (more on qualifications in a bit). The Child Tax Credit is a non-refundable income tax credit (with the possibility for it to become refundable through claiming the Additional Child Tax Credit). With a non-refundable credit, if your credit exceeds your income tax liability, then you wonât get a refund for the difference.