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Up to 74% of Future Retirees Risk Forfeiting Some Social Security Benefits


Up to 74% of Future Retirees Risk Forfeiting Some Social Security Benefits
Christy Bieber
© Provided by The Motley Fool
Up to 74% of Future Retirees Risk Forfeiting Some Social Security Benefits
Millions of Americans look forward to the day they can claim their Social Security benefits and start enjoying retirement income from this entitlement program they ve contributed to throughout their careers.
These checks from the Social Security Administration are often an important source of income for older Americans, providing at least half of household income for 50% of senior married couples and 70% of unmarried retirees.
Unfortunately, close to three-quarters of Americans are currently making plans that could lead to the forfeiture of at least some Social Security benefits in retirement if only temporarily.  ....

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See which tax credits you qualify for


See which tax credits you qualify for
Bankrate
1/9/2021
© adamkaz/Getty Images
A neighborhood in southern California where many homes have solar panels installed
When it comes to saving money on your taxes, tax credits are one of the most valuable available methods. Tax credits are subtracted dollar for dollar directly from the amount of tax you owe the IRS.
These credits are incentives that the government gives for behaviors or actions that they deem beneficial, like taking care of dependents, buying an environmentally friendly electric car or earning an income.
How tax credits work
Tax credits, as opposed to tax deductions, are subtracted directly from the tax you owe, helping you cut down your overall tax bill. Tax deductions simply lower your taxable income. ....

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