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The child and dependent care credit is a tax benefit designed to help people who both work a job and pay for the care of either children or dependents, if not both. This tax credit aims to cover a portion of the expenses that working individuals have to cover in order to provide care for their children and dependents. It is a means of returning some of what is spent on care, which has the potential to save someone hundreds or thousands of dollars come tax season.
With the rise of the gig economy, a lot of people have opted to turn their hobbies into profitable ventures. In turn, the lines are blurring between hobbies and small businesses, provoking many people to wonder what it means for their taxes. So, what is the difference?
Not all reverse mortgages are the same. The home equity conversion mortgage, insured by the federal government, is available only through a Federal Housing Authority-approved lender. For homeowners 62 years of age or older with significant equity in a home, an HECM may be an attractive idea. It's a way to supplement retirement income by allowing eligible homeowners to access a portion of the equity.
Do you have financial issues? Of course you do — we all do. Well, then, how do you get past your money issues? Let us count the ways:
First, if you're just considering getting a student loan at the beginning of a college career, what can you learn about student loans to help you offer advice to your kids as they get ready to head to college? Let's take a closer look.
If you have a less-than-ideal credit score, you can't repair it overnight. But there are steps you can take to raise it over time.
Where is the best place to start on a journey to get and keep your finances in order? Gather your financial paperwork, including whatever pertains to your credit cards, phone and utility bills, bank statements, insurance and mortgage payments, and any other financial debts and obligations you're required to pay on a monthly or yearly basis.
A deductible is the amount you have to pay out of pocket. If a health insurance plan has a $1,000 deductible, you'd need to pay the first $1,000 before the plan covers any expenses. You're responsible for any copayments or coinsurance fees.
It may seem like a simple decision: What kind of credit card should I get? However, there are long-term implications, and the kind of credit card you use and how you use it can have major effects. Whether you're thinking about the next quarter or what happens to your estate plan, you should review your credit card situation.
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