Money

Saving For Medical Expenses With An HSA

Health savings accounts (HSAs) let you save money to cover the cost of a wide range of qualified medical expenses. HSAs offer a trio of tax advantages, and you can invest money saved in an HSA in markets for better returns on your contributions. Just note that HSAs are only available if you have a […]

Worry About the Right Thing With Estate Taxes

Death and taxes may be the only certainties in life, but death taxes are only a remote possibility for most people. The vast majority of Americans won’t ever have or…

What Is Social Security?

If you receive a paycheck, you’re probably well acquainted with a little line item that says “Social Security Tax.” Although many people most associate it with our nation’s troubled retirement financing infrastructure, Social Security still provides income and benefits to older Americans and those who can no longer provide for themselves due to disability. How […]

How Much Social Security Will You Get In Retirement?

Since its inception in 1935, Social Security has been a key source of retirement income for older Americans. Despite the program’s enduring popularity, many potential beneficiaries have no idea how much money they can count on from Social Security once they retire. Here’s how to figure out how much you may earn from Social Security […]

Top 7 Tax Benefits Of Parenthood

MoneyTips

Congratulations! You have just been handed your first little bundle of joy in the hospital and have embarked on the long journey of parenthood. It is a trip full of joyful experiences that make the corresponding aggravations worthwhile, and it comes with many benefits — some of which are tax-related. You can look forward to taking advantage of these child-related deductions and benefits.

  • Earned Income Tax Credit (EITC) – Designed to help lower income taxpayers, the EITC is a tax credit that is scaled along with income and the number of dependents claimed. See IRS Publication 596, "Earned Income Tax Credit (EITC)" for details on qualifications and the scaling criteria. T...

11 Popular Tax Credits

Tax Benefits Of Having Dependents

Top 7 Tax Deductions And Credits That People Forget

Should You Buy A QLAC To Reduce RMDs?

One dubious reward for doing a great job with your retirement savings is bigger tax bills in retirement. Even if you don’t need to take money out of your carefully funded retirement accounts, the feds insist that once you turn 72, you start taking required minimum distributions (RMDs). Every dollar you take out of your […]