Good financial read: Contributions for Parents


    Contributions for parents

    Adult child asks for money

    by Marianne Nolte, Imagine Financial Services

    When you see your adult child’s name appear on Caller ID, your first thoughts are, “Oh no, how much will it cost me this time?”

    We want the best for our children, whether they are babies, toddlers, teenagers or single adults. Have you ever caught yourself saying or thinking, “What can I do, I have to help, she is my daughter” but that is out of control! Falling victim to this behavior can be a destructive scenario for both the parent and the adult child.

    [Read the Full Article]

    Save Childcare Costs for 2021: Long Term FSA vs. Long Term Care Tax Credit

    by Danielle Harrison, Harrison Financial Planning

    For those with young children, the cost of childcare can seem astronomical. With two boys in daycare, my family spends more than twice as much on childcare each month as we do on our mortgage, an all-too-common phenomenon in the United States. Fortunately, the federal government has recognized that the high cost of childcare can be a burden for families, and has created several ways to offset some of the childcare costs, including Dependent Care Flexible Spending Accounts (DCFSA) and the Dependent Care Tax Credit.

    [Read the Full Article]

    2021 monthly child tax credits

    by Matt Elliott, Pulse Financial Planning

    Under the American Rescue Plan Act of 2021, significant changes were made to the way the child tax credit works in 2021. Here’s what you need to know when you have children:

    Summary of the facts:

    • The previous child tax credit has increased from $ 2,000 to $ 3,000 per child 6-17 years old and to $ 3,600 per child 0-6 years old.
    • Part of the credit is paid in advance, starting monthly in July 2021.
    • The rest of your balance will be drawn when you file your 2021 tax return.

    [Read the Full Article]

    Child Tax Credit 2021: 8 Things You Need To Know

    by Alvin Carlos, District Capital Management

    If you have a child, you might get some money from the IRS this year. The American Rescue Plan Act, which came into effect on March 10, 2021, increases the child allowance and calls for payments to families. The 2021 child tax credit payments are completely separate from the cyclical controls.

    Eight things you should know about the new child tax credit.

    [Read the Full Article]

    Summer ideas for children [Video]

    by Michelle Schmalenberger, Financial Design Studio

    School is out, so what should a kid do? Read on for some summer ideas for kids. We’d like to help give you some ideas to keep you occupied this summer while it’s warm outside.

    [Watch the Video]

    Child Tax Credit 2021: What It Means For Your Family

    by Robert Stoll, Financial Design Studio

    In response to the coronavirus pandemic, the government shoveled big bucks to consumers in three rounds of economic checks. You might think that the “Stimy Check” parade is over, but families with young children still get a round of cash! That could mean the extended 2021 child tax credit for your family.

    [Read the Full Article]

    Following financial advisor blogs is a great way to access valuable, educational information about finance – and it won’t cost you anything! Our financial planners are happy to share their knowledge and help everyone, regardless of age or wealth.


    Please enter your comment!
    Please enter your name here