Income

As tax season looms closer, parents across the United States are eagerly anticipating information about their Child Tax Credit (CTC) eligibility. For many, this credit is not just a tax benefit but a crucial component of their financial…

Planning for retirement can be a daunting task, especially when you're nearing the age of 60 and have $800,000 in retirement savings.  With the average monthly living expenses in the United States around $4,000, there's a significant gap…

The Senior Citizens League, a nonpartisan, non profit organization for seniors, projected a 1.75% cost-of-living adjustment (COLA) for Social Security in 2025 based on the January consumer price index report.  This anticipated increase…

If you have yet to assess your potential tax liability for the current year as a recipient of Social Security benefits, it is advisable to do so promptly.  The 8.7% cost-of-living adjustment (COLA) implemented in 2023, resulting in…

The Internal Revenue Service (IRS) and the Justice Department, IRS Commissioner Daniel Werfel announced a renewed effort to combat fraudulent tax preparation practices.  The agency's commitment to addressing this issue is part of a…

One of the most daring experiments in the history of the American social safety net was the roughly $5 trillion in COVID-19 stimulus expenditure.  Proponents of the legislation that authorized the assistance argued that an immediate and…

Two recent assessments claim that an average American's income won't be sufficient to maintain a comfortable standard of life in 2023. The Census estimates that the average American family makes $71,000 a year. Nevertheless, according to…

Families with low incomes who are most severely affected by poverty will be chosen for the Guaranteed Income Program.  In Harris County, Texas, a pilot program is about to start. A pilot initiative called Uplift Harris received approval…