FOX Business' Charles Payne provides insight into how Biden's tax plans and the coronavirus could impact retirement savings.
It's not very often that you can get hundreds of thousands of dollars in free money . But some Americans have a prime opportunity to do just that, simply by making a smart financial choice.
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That choice: Claiming the Saver's Credit. If you're a married couple eligible for the full credit and you claim it every year for 30 years, you could end up with nearly a quarter of a million dollars in extra free cash in your retirement accounts courtesy of Uncle Sam .
In case you are keeping track:
12 Ways the Biden Stimulus Package Could Put (or Keep) Money in Your Pocket | Kiplinger
But where do you fit in? Would you get any financial assistance if Biden's stimulus package is eventually enacted into law? To help you answer that question, we outlined 12 provisions in Biden's American Rescue Plan that could put (or keep) some extra money in your pocket . At this point, it's too early to say if this stimulus package (or parts of it) will get through Congress. And, even if it does, it could be weeks or even months before that happens.
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The Biden plan also calls for an expansion of the additional amount tacked on for dependents. For the first- and second-round stimulus checks, eligible Americans receive an extra $500 (first-round checks) or $600 (second-round checks) for each dependent child age 16 or younger. Under the president-elect's plan, the additional payments would be available for any dependent, regardless of age.
Cody Sims: Five Simple Yet Smart Money Habits For The New Year And Beyond - Chattanoogan.com
1. Practice the principal of mindfulness. It's as simple as paying attention to your spending habits and putting the brakes on impulsive purchases. When you're intentional with your money, you make rational decisions based on what you can afford and what you need. Strategies to help you be more mindful include creating a monthly budget, making lists before going to the grocery store and holding off on large purchases until you can really afford them.
4. Play your cards right. It used to be that a major credit card was absolutely required for online purchases and travel reservations such as airline tickets, hotel rooms and car rentals. In today's economy, it's possible to manage many, if not all of these transactions with a debit card. Credit cards can provide advantages through their reward programs, and disciplined use can help build creditworthiness.
How can I protect my money from upcoming tax changes? - lehighvalleylive.com
Q. Now that Democrats have control of Congress, I'm afraid they will take away the Trump tax breaks. What can I do to make sure I'm not paying a ton? Are there shelters I can use in some way?
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A. There are many ways to protect your income and assets from taxes, but the best strategies for you will depend on the specifics of your situation.
First, though, people are assuming taxes will rise under President-elect Joe Biden and a Democratic Congress, but that's not a sure thing.
While you're here, how about this:
Don’t Waste Your Money: Stimulus check frustrations | ABC27
Some people are still waiting for their $600 stimulus check, and are learning the money went to their tax preparer instead.
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The second round of stimulus checks was supposed to go smoother than the first. But then why are so many people complaining about problems?
“The first payment was sent back in April to the correct last 4 digits of my account,” Niecie Boyd said.
Boyd is one of several million H&R Block and TurboTax customers whose $600 check went to a mystery bank account this time.
How Money Printing Really Works – Bitcoin Magazine
It's undeniable — the world runs on money. This thought is ingrained in all of us and we all understand it deeply. This is evident by the fact that we spend vast amount of hours every day in order to attain more of it.
In the Bitcoin space, we constantly see news, memes and critiques about how the central banks have printed absurd amounts of money yet again. The truth of the matter is that the monetary system does not work quite as simply as that — there are many more players involved that ultimately decide the net amount of new money creation in the world.
How to save money for a car | Consumer Banking | Chase.com
Saving up to buy a car can involve planning and adjusting your spending habits. Whether you're buying a brand-new car or an older model, building a strategy to save money for the car's down payment will benefit you and your budget.
With a number in mind for your down payment, you can create a car-savings fund to help you manage the money you save and track your progress toward your down payment goal.
To save money and get closer to your goal, increase the amount you save every week and lower your spending. If you automate a minimum payment to your savings account with every paycheck, you take out the temptation to spend elsewhere and you can also know exactly when you'll hit your target.
Grant money will go toward improving infrastructure throughout Lordstown | WKBN.com
The Eastgate Regional Council of Governments has received $2.5 million in grant money for infrastructure improvements, which will go toward developing a Lordstown Smart Transit Corridor. It will also be invested in electric vehicle charging technology.
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“What’s really been brought to the attention, the forefront through this pandemic is the areas that can’t afford broadband. Children having to learn from home and not being able to get online because they can’t afford the internet. They can’t afford a computer to be able to go to school that way,” said Jim Kinnick, with the Eastgate Council of Governments. “Telehealth — being able to see a doctor online is very important, especially in a
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