It's true that children can provide a number of benefits. And some of those are tax benefits. You will find that your children offer you the chance for a variety of tax credits and tax deductions. From standard credits, like the $1,000 child tax credit, to dependent care credits, to benefits on kids' investment accounts, you can reap some of the tax benefits associated with your progeny. Some states even offer tax deductions for contributions to 529 college savings plans (no federal tax breaks for 529 contributions, though).