Nearly 90% of American families with kids get the child tax credit, including the new monthly payments. Some may use the money to invest for the future.
Roughly 90% of families in the U.S. will get the child tax credit and the advance payments, according to the IRS. While the expansion is targeted at helping the lowest-income families, it is also a significant boost for middle-class Americans who have been hit by the coronavirus pandemic.
"The first thing you have to do is gauge 'Are my household essentials taken care of?'" said Michael Foguth, founder of Foguth Financial Group in Brighton, Michigan. Once you've determined that you're OK in terms of day-to-day expenses and also have a solid emergency fund handy, you can begin to look at other things to do with the money, such as invest it to get ahead, he said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dr. Dre Ordered to Pay Nicole Young Nearly $300K a Month in Spousal SupportDr. Dre has been ordered to temporarily pay his ex Nicole Young nearly $300,000 a month in spousal support.
Read more »
Americans' optimism about country's direction over next year drops nearly 20 points since May: POLLAs President Joe Biden completed 100 days in office, the country was optimistic about the coming year, but now, just after hitting the six-month mark, Americans' optimism about the direction of the country has plummeted nearly 20 points, a new ABC News/Ipsos poll finds. Optimism is now under water by 10 points. The decline in optimism has occurred across the board among Democrats, Republicans and independents.
Read more »
Americans' optimism about country's direction over next year drops nearly 20 points since May: POLLIn May, a little more than a third were pessimistic. Now, it is a majority, a new ABC News/Ipsos poll finds.
Read more »
Chris Brown Drops Nearly $100k on Magnetic Retention GrillsChris Brown dropped nearly $100k on some magnetic gold grills.
Read more »
Bitcoin tops $39,000 for the first time in nearly 6 weeks, adding $114 billion to the crypto marketBitcoin surged 12% on Sunday topping $39,000 for the first time since mid-June as sentiment turned bullish following a recent sell-off.
Read more »