Better Financial Counseling Network
Better Finances. Better Living.
Better Financial Counseling Network
Better Finances. Better Living.
For 2021 Congress made a big change to the Child Care and Dependent Credit, which helps families cover child care costs -usually a little, but now maybe a lot more. The child care credit typically applies for a child under 13 or a disabled dependent. Also, the taxpayer (and spouse, if filing Married Filing Jointly(MFJ) …
Recovery Rebate Credit and the Third Stimulus Payment: Many taxpayers experienced the Recovery Rebate Credit (RRC) for the first time when filing their 2020 tax return this year. Next year, we’ll have a Recovery Rebate Credit again for the 2021 tax return. Since the credit this time is tied to the 3rd stimulus payment, which …
I don’t normally write about taxes much this time of year, but one of the tax changes from The American Rescue Plan Act (ARPA) of 2021 may require taxpayers with children to put some extra thought into their tax planning and their budgeting. So, I plan to talk about it frequently. The Child Tax Credit …
Are you expecting money back from the IRS through a tax refund, recovery rebate credit or the coming stimulus payment? If yes, now is the time to plan how you will use this money. If this year has been financially tough…Use it to Protect Yourself. As a financial counselor, one of my first questions to …