Yes, higher prices are a drag but why are you leaving your savings in 0.05% (or less) savings accounts? Inflation-adjusted U.S. Savings Bonds are the best way to beat inflation. Currently these bonds are paying 7.12% (through April 30); the rate will escalate to 9.6% May 1. Generally one is limited to buying a maximum…
Category: income tax refund
2021 Federal Taxes: Expanded child Tax Credits and Child-Care Flexible Spending Accounts
Q: (True or false): Taxpayers who got direct deposits of 2021 child tax credits last year could have lower refunds or higher taxes due than expected on returns they’re preparing now. A: True. Millions of taxpayers received partial prepayments of expanded child credits for 2021 last year via direct deposit. As a result, these amounts…
How NOT to spend your income tax refund… IF you receive a refund
“Gambling, investing in cryptocurrency or backing a friend’s new venture are among the worst possible ways to spend a tax refund, writes Geoff Williams” in US News and World Report.See; The 5 Worst Ways You Can Spend Your Tax Refund https://money.usnews.com/money/personal-finance/taxes/articles/2018-03-20/the-5-worst-ways-you-can-spend-your-tax-refund Much better options: pay down credit card debt, pay down other debts like car…