The Child Tax Credit (CTC) is a vital resource for families in the U.S., designed to alleviate the tax burden on parents with dependents under 17. Beyond just reducing the taxes you owe, it can also result in a cash refund in certain circumstances. Let’s cut into the updated rules for 2025 and how they … Read more
It’s in the news lately because it introduces drastic changes that would touch more than 3 million Americans. If this law passes, Social Security will see increased benefits for certain classes as it would abolish outdated provisions. However, this law needs to be approved by the next January when the government changes hands. These provisions have been criticized for unfairly penalizing retirees who worked in public service roles, such as teachers, firefighters, and postal workers. This change in the law will have a significant effect on two critical groups: For example, these include professionals such as: And this is because the eradication of WEP and GPO means they can no longer be subjected to deductions in their Social Security, thereby making it an equitable means of distributing benefits. Financial Implication … Read more
Social Security Payments: plans to distribute new monthly benefits to millions of Americans starting in February 2025. A unique payment delivery schedule is confirmed for this February because SSI recipients will receive their payment through direct deposits on January 31 rather than February 1. SSI beneficiaries will receive their benefits early this month on January … Read more
In February 2025, there will be 4 new payment dates for Social Security recipients. However, the first payment will begin on February 3, when eligible retirees will receive their monthly payment. If you are age 62 or older, check your eligibility to make sure you can receive the first payment on February 3. If you … Read more