Your kids might be able to earn you some credit — at least with your taxes

Believe it or not, your kids don’t always have to separate you from your money. Sometimes they can actually help you keep some — especially at tax time. Before you file your tax return, read below and find out if you qualify for one or more of these tax credits.

Dependents In most cases, you can claim your child as a dependent. You can deduct $3,950 for each dependent you are entitled to claim. You must reduce this amount if your income is above certain limits. For more on these rules, see Publication 501, Exemptions, Standard Deduction and Filing Information.

Child Tax Credit You may be able to take this credit for each of your children under age 17. The Child Tax Credit may be worth as much as $1,000 per qualifying child depending upon your income. If you can't claim the full amount of the Child Tax Credit, you may be eligible for the Additional Child Tax Credit. You can find out more by reading Publication 972, Child Tax Credit.

Child and Dependent Care Credit You may be able to claim the Child and Dependent Care Credit if you pay someone to care for your children, age 13 or younger, so you can work or look for work. See Publication 503, Child and Dependent Care Expenses, for more on this credit.

Earned Income Tax Credit The EITC is a tax benefit for people who work and have earned income from wages, self-employment or farming. EITC reduces the amount of tax you owe and could give you a refund. To qualify, you must meet certain requirements and file a tax return, even if you do not owe any tax or are not required to file. You can qualify with or without children. You can get up to $6,242 in EITC. Go to the EITC page on IRS.gov and see Publication 596, Earned Income Tax Credit, to learn more.

Adoption Credit You may be able to claim a tax credit for certain costs you paid to adopt a child. For details, see Form 8839, Qualified Adoption Expenses.

Education Credit Education tax credits can help offset the costs of higher education by letting you claim qualifying education-related expenses. The American Opportunity Tax Credit and the Lifetime Learning Credit can be subtracted in full from your federal income tax, not just deducted from your taxable income. Check out Publication 970, Tax Benefits for Education, and Form 8863, Education Credits (Hope and Lifetime Learning Credits), to learn more. For information about these credits and more, visit the IRS YouTube Channel.

Student loan interest You may be able to deduct interest you paid on a qualified student loan. You can claim this benefit even if you do not itemize your deductions. For more information, see Publication 970.

Self-employed health insurance deduction If you were self-employed and paid for health insurance, you may be able to deduct premiums you paid during the year. This may include the cost to cover your children under age 27, even if they are not your dependent. See Publication 535, Business Expenses, for details.