Get a Social Security Card Right Away
05/15/24
The arrival of a new baby brings great joy to parents. It also brings a significant tax break as an additional dependency exemption. But, to claim a dependency exemption, your dependent has to have a Social Security number. You can obtain a Social Security card for your child at the same time you obtain a birth certificate using the same application. If you wait, you’ll have to wait in line at a Social Security Administration office and bring with you evidence of identity, age, and citizenship.
There are a number of good reasons to obtain your child’s Social Security number right away, including:
- Obtaining medical coverage
- Purchasing savings bonds or an Education Savings Account in the child’s name
- Applying for government services
- Establishing a bank savings account in the child’s name
Ready to explore how Sunflower Bank can assist you? Speak to a personal banker at a branch near you, contact a specialist on our Wealth Management team, or find the right financial partner on our Commercial Banking team for your business needs.
This article contains general information only. Sunflower Bank is not, by means of this article, rendering accounting, financial, investment, legal, tax, or other professional advice or services. This article is not a substitute for such professional advice or services, before making any decisions related to these matters, you should consult a qualified professional advisor.