How much does child care really cost?

 
Typical child-care fees vary widely by state, as do other living costs. But in all regions, the average annual cost of center-based care for one infant now exceeds the average amount of money families spend on food and transportation combined. Child-care costs for two children exceed the median cost of housing for homeowners with a mortgage in 35 states and the District of Columbia.
 

How can I get a tax break for child care?

 
How can I get a tax break for child care?More than 60% of children under age six in the United States have two parents in the workforce. 1Many of these working parents must spend a burdensome share of their earnings on child care, especially if they don’t have relatives who are willing and able to help out.
 
The following tax benefits may help you offset some of the costs paid for a nanny, babysitter, day care, preschool, or day camp, but only if the services are used so you can work. Continue reading

Four Reasons Your Parents Might Be in Financial Trouble

 
Four Reasons Your Parents Might Be in Financial TroubleAs your parents age, they will probably need more help from you. But it may be difficult to provide the help they need, especially if they’re experiencing financial trouble.
 
Money can be a sensitive subject to discuss, but you’ll need to talk to your parents about it in order to get to the root of their problems and come up with a solution. Before you start the conversation, consider the following four scenarios as signs that your parents might be experiencing financial challenges, and how you can make things easier for them. Continue reading

Quiz: How Much Have You Thought About Health and Health-Care Costs in Retirement?

 
Quiz: How Much Have You Thought About Health and Health-Care Costs in Retirement?When planning for retirement, it’s important to consider a wide variety of factors. One of the most important is health and its associated costs. Thinking about your future health and the rising cost of health care can help you better plan for retirement in terms of both your finances and overall well-being. This quiz can help you assess your current knowledge of health and health-care costs in retirement. Continue reading

Due Date Approaches for 2018 Federal Income Tax Returns

 
Due Date Approaches for 2018 Federal Income Tax ReturnsTax filing season is here again. If you haven’t done so already, you’ll want to start pulling things together — that includes getting your hands on a copy of your 2017 tax return and gathering W-2s, 1099s, and deduction records. You’ll need these records whether you’re preparing your own return or paying someone else to prepare your tax return for you. Continue reading

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