The U.S. Government has announced that upcoming Social Security payments of $1,907 will be distributed to disabled individuals and retirees. These payments are scheduled for February 14th, with eligibility based on certain criteria. If you’re someone who filed for benefits after May 1997 and falls within a certain age range, you can expect to receive … Read more
Seniors and eligible citizens are set to receive a 5.2% increase in Social Security benefits, offering much-needed relief amidst soaring living expenses. The government’s decision to boost maximum taxable earnings reflects efforts to align pension policies with the evolving economy, providing beneficiaries with greater financial stability. Impact of Increase in Social Security Benefits The 5.2% … Read more
Ohio’s House of Representatives has passed House Bill 324, which supports a short-term tax credit of 5 cents per gallon for biofuels mixed with E15 or higher. State Representatives Riordan McClain and Roy Klopfenstein are pushing for this bill, which will make it easier for Ohioans to get this cheap, locally made fuel. The goal … Read more
Following the Supreme Court’s rejection of the original debt cancellation proposal, the Biden administration has announced plans to only offer student loan forgiveness to users who are experiencing “financial hardship.” It’s still not clear who might be able to get this help, but the upcoming rules session of the U.S. Department of Education and other … Read more
The IRS is anticipating a significant surge in tax revenues, expecting to collect up to $561 billion more in overdue and unpaid taxes from 2024 to 2034. This projection comes as a result of bolstered enforcement efforts fueled by funding from the Democrats’ Inflation Reduction Act (IRA). The IRA, which was signed into law in … Read more
Residents of Minnesota are in line to receive additional child tax credit payments in 2024, as the state joins a list of 15 others providing extra relief to families. With the tax season underway, individuals are encouraged to explore all available credits to alleviate financial strain amidst current economic conditions. Minnesota officials anticipate the average … Read more
Governor Tim Walz of Minnesota, along with Lieutenant Governor Peggy Flanagan, made a visit to a free tax preparation site in the Twin Cities metro area, urging eligible residents to take advantage of the new Child Tax Credit during this tax filing season. The Child Tax Credit, offering up to $1750 per child, is poised … Read more
Looking to ease the tax season stress? Great news! AARP Tax-Aide of South Lake Tahoe is here to help! They’re offering free tax preparation sessions starting this Thursday, February 8th, from 2-6 PM at the Senior Center located at 3050 Lake Tahoe Blvd. It’s a fantastic opportunity for the community to get their taxes sorted … Read more
Republicans in the Washington Senate are vehemently opposing the Property Tax Hike Bill, backed by Democrats, calling it the most damaging bill of the 2024 session. This Property Tax Hike Bill would permit local governments in the state to raise property taxes by up to 3% annually without needing voter approval, compared to the current … Read more
Planning for retirement must include making the decision of when to claim Social Security, according to a report from Yahoo Finance. Since people can start getting benefits at age 62, they have to decide whether to file early or later. For making smart decisions, it’s important to know the average age of people who claim … Read more