Although we are slowly coming out of the pandemic, nobody knows when it will be over, especially with the delta and lambda variants out there. People are still hurting economically, especially couples with children. Even if they’re back to work, childcare costs can really eat into the increased income.
That’s why in this episode of the podcast I wanted to talk about two tax breaks for families that can really ease the financial burden until we are fully out of the pandemic. Whether you need the money up front, in a big refund, or in a tax credit, these breaks can help!
In this episode you will learn:
- How the Enhanced Child Tax Credit can help you
- How to get the money if you don’t file a tax return
- Why you may want to opt out
- How to leverage the Child and Dependent Care Tax Credit
Links & Resources
- What You Need to Know About the Enhanced Child Tax Credit (CNBC)
- Why You May Want to Opt Out of the Monthly Child Tax Credit Payments (CNBC)
- Sigining Up Late for the Child Tax Credit (CNBC)
- All About the Child and Dependent Care Tax Credit (CNBC)
- College Tuition Insurance (CNBC)
- IRS Tax Credit Eligibility Tool
- IRS Non-Filers Tool
- IRS Child Tax Credit Update Portal
- Child Tax Credit Calculator
If you enjoyed this episode, you might also like:
- Episode 133: Planning Your Post-Pandemic Finances
- Episode 107: Student Loan Strategies for When the Government No Longer CARES
If you enjoy listening to this podcast, it will put a big smile on my face if you left a review on Apple Podcasts, Podchaser, or wherever you like to listen to podcasts.