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