Monday May 17, 2021
News
Important Life Decisions
"How can I plan?" asked Mary. "We just sold our home and bought a retirement condo. Our older child just moved across the country and our younger child will be getting married later this year. With so...MORE
Medicare Coverage Options for Retirees Eager to Travel
What are the best Medicare coverage options for COVID-vaccinated retirees who are eager to travel? My wife and I will both turn 65 over the next few months and would like to know which Medicare plans...MORE
Increased Child Care Tax Benefits in 2021
With the reduced number of infections and better news for the COVID–19 pandemic, millions of Americans are returning to work. Many parents are making arrangements for childcare. The American Rescue Plan Act (ARPA) includes several benefits that will help parents as they return to work.
The ARPA benefits include an increased child and dependent care credit, higher limits for a flexible spending account (FSA), expansion of the earned income tax credit (EITC) and greater benefits under Advance Child Tax Credits.
1. Increased Child and Dependent Care Credit — ARPA makes it easier for parents to provide child and dependent care. The tax credit for care of qualified dependents is increased from 35% to 50%...MORE
