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USA taxes query- get pay raise before or after baby born?

 
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amother




OP
 

Post Sun, May 22 2022, 9:51 pm
How does it work? Would like a pay raise before our baby (not the first) is born but do not want to lose out on tax refund end of year , do I wait until after baby is born or what? Just not sure how this whole thing works... Thanks
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amother




Chambray
 

Post Sun, May 22 2022, 9:53 pm
What does tax refund have to do with your income?
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amother




OP
 

Post Sun, May 22 2022, 10:01 pm
amother [ Chambray ] wrote:
What does tax refund have to do with your income?


if we make too much no? like I said im kinda clueless ...
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amother




Cornsilk
 

Post Sun, May 22 2022, 10:03 pm
It shouldn't make a difference. Either you'll get the money over the course of the year or with your refund.
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amother




OP
 

Post Sun, May 22 2022, 10:06 pm
amother [ Cornsilk ] wrote:
It shouldn't make a difference. Either you'll get the money over the course of the year or with your refund.


So the amount of kids you have makes no difference for the tax refund?
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amother




Caramel
 

Post Sun, May 22 2022, 10:18 pm
Taxes work by year. Also, kids. For tax purposes, a baby born jan 1, 2022 and a baby born dec 31, 2022 is the same. Also income. On your tax return, you'll be reporting income from 2022, regardless of the specific month you earned it.

Whether you get a refund or not depends on the whole picture. There are tax calculators online where you can input your specifics to estimate if you'll get a refund or not.
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amother




Tuberose
 

Post Sun, May 22 2022, 10:27 pm
Depends if you give birth this year or in 2023
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Amarante




 
 
 
 

Post Sun, May 22 2022, 11:04 pm
It is always better to get an increase sooner than later as your tax rate is never 100% so you will always have more annual net income.
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