Tax credits reduce the amount you owe to the IRS, but not all tax credits work the same way. A refundable tax credit can reduce your tax liability below zero. This means you could receive a refund even if you owe nothing in taxes. For eligible taxpayers, this can result…

Key takeaways Full-time working mothers with children under 18 earned a median salary of $56,680, while their male counterparts earned $76,388 in 2024, according to Bankrate’s analysis of Census Bureau Current Population Survey (CPS) data. That’s a 35 percent pay gap, wider than 2023 and 2022. There appears to be…

Saving for retirement is only half the battle. Once you leave the workforce, you’ll need a plan for turning your assets into a reliable income stream. Managing how you draw down your nest egg can be just as important as building it. For many retirees, creating sustainable, tax-efficient income is…

Reaching age 60 is a major financial milestone, particularly when it comes to your 401(k) retirement savings. While you can access your 401(k) without penalties after age 59.5, there are important rules, strategies and tax implications to keep in mind. As you near or enter retirement, you’ll likely begin to consider…