Money Management

Want to get rewarded when you spend money on travel? Keep reading to learn how to maximize travel credit cards the right way. [[{“value”:”

Many travelers use travel credit cards to pay for their travel expenses. These credit cards can provide rewards opportunities and valuable perks, many of which are travel-specific, like baggage delay insurance and complimentary airport lounge access. If you like to travel, you may benefit from one of these rewards credit cards. I’ll share a few habits savvy travel credit card users have to help you get the most from your travel credit card.

1. They only charge what they can afford to pay off

Carrying a balance on your credit cards is never a good idea. If you don’t pay your entire statement balance, you’ll be charged credit card interest. Savvy travel rewards credit card users don’t carry a balance on their cards. When using rewards credit cards, only charge what you can afford to pay off. Earning rewards is only worthwhile if you don’t rack up debt.

2. They take advantage of travel transfer partners

Some travel credit cards allow cardholders to redeem rewards by transferring their points or miles to select travel partners. Travelers can use their rewards to book hotel stays or award flights with hotel and airline partners.

While this redemption method requires more effort, it’s often a much better use of credit card rewards because it allows travelers to get more value from their points or miles. Before redeeming your travel rewards, consider what redemption method will provide the most value.

3. They charge all travel expenses to their travel cards

Savvy travelers who love credit card rewards ensure they swipe the right credit card when booking travel reservations. If they have other rewards credit cards in their wallets, they choose the card that offers the most rewards.

You can maximize your travel rewards by charging your travel purchases to your travel rewards credit cards. Here’s an example: If you have a cash back credit card that offers 1.5% flat-rate rewards and a travel credit card that offers 3% back on travel purchases, it’s wise to use your travel rewards card to pay for your travel expenses.

4. They choose credit cards with perks they will use

There are some fantastic travel credit card options, but only some will suit your needs. When choosing which credit cards to get, savvy travelers focus on ones that offer benefits they will get value from. You should explore alternative options if a credit card offers perks you won’t use and comes with a pricey annual fee. Review each card’s benefits and features to ensure you’re choosing one that will meet your needs as a traveler.

5. They time out when to apply for a new travel credit card

Many travel rewards credit cards offer generous welcome offers to new cardholders. If a credit card includes a welcome offer, and you qualify and meet the minimum spending requirements within the required timeline, you can walk away with a sizable extra stash of points or miles.

Many travelers use multiple travel credit cards. But before applying for a new card, they consider upcoming purchases they will need to make and wait to apply until they can comfortably meet the minimum spend. This way, they’re only charging purchases they intend to make to avoid credit card debt, and they don’t miss out on a valuable welcome offer.

Take care when using travel credit cards

When using travel credit cards, be strategic to get maximum value from the perks and rewards provided. Otherwise, you may miss out on benefits or make a low-value redemption. If you want to earn rewards for your next vacation, check out our list of the best travel credit cards.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Natasha Gabrielle has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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New York residents could potentially reduce their taxes with these state tax credits. Find out more about how they work. [[{“value”:”

During that dreary time of year while we wait for spring, it’s a good thing we have tax season to keep us from our melancholy. But seriously, folks, it’s that time again. Rather than approach my taxes with dread, however, I like to think of it a bit like the Easter egg hunts to come: How many tax breaks can I dig up this year?

While there are a lot of great federal tax credits to uncover, don’t forget your state may also have some gems. New York State residents, for instance, may want to explore some of these potentially lucrative tax credits.

1. Empire State Child Credit

The Empire State Child Credit is a refundable tax credit for eligible New York State residents who qualify for the Federal Child Tax Credit. Previously, eligible children needed to be over age 4 but under 17. As of 2023, children under 4 can also qualify.

You’re eligible for the Empire State Child Credit if you were a full-year New York State resident (or were married to one), have a qualifying child, and you have a federal child tax credit (or qualify for one via income). The amount of the state credit varies based on whether you claimed the federal credit.

Refundable: Yes.

2. Child and dependent care credit

This is the New York State version of the federal credit. The Federal Child and Dependent Care Tax Credit is for working people who pay for child or dependent care. If you’re eligible for the federal credit, you can claim the state credit. The amount of the credit will vary based on your income and expenses.

Refundable: Fully refundable for full-time state residents, partially refundable for part-time residents, nonrefundable for nonresidents.

3. Earned income credit

Another federal-to-state credit, the New York State earned income credit is open to folks who qualify for and claim the Federal Earned Income Tax Credit. This program is designed for low-income singles and moderate-income families (the 2023 eligibility table maxes at $17,640 for a single filer, and $46,560 for a single filer with one child).

Refundable: Fully refundable for full-time state residents, partially refundable for part-time residents, nonrefundable for nonresidents.

4. Clean heating fuel credit

There are a variety of federal state credits you can claim for using or upgrading to certain “clean” energy sources. The New York State clean heating fuel credit is specifically for people (or businesses) who purchase bioheating fuel used for space or water heating for residential purposes.

For the purposes of this credit, bioheating fuel is defined as “fuel comprised of biodiesel or renewable hydrocarbon diesel blended with conventional home heating oil, which meets the specifications of the ASTM International designation D396 or D975.” The bioheating fuel must contain at least 6% biodiesel per gallon to qualify, though “fuel that is comprised of renewable hydrocarbon diesel blended with conventional home heating oil may also qualify.”

Refundable: Yes.

5. Solar Energy System Equipment Credit

The push for solar is real, both federally and at the state level. The New York State Solar Energy System Equipment Credit is aimed at folks who have purchased or leased solar energy system equipment, or who have a written agreement to specifically purchase power generated by a solar energy system they do not own.

Specifically, the system must be used to produce energy for “heating, cooling, hot water, or electricity for residential use” in a residence within New York State. The credit can be worth up to 25% of your qualified expenditures, up to $5,000.

Refundable: Not refundable, but credit in excess of taxes due can be rolled over for up to five years.

6. STAR credit

The School Tax Relief (STAR) credit is designed to provide property tax relief to eligible New York State homeowners. Effectively, if you’re eligible for the credit, the state will send you a check once a year that you can use to pay your school taxes. (As of 2023, you can also choose to receive the credit via direct deposit instead of check.)

Previously, this was known as the STAR exemption, which simply reduced your school tax bill. Folks who already receive the STAR exemption can continue to receive it, but new homeowners will get the credit instead.

Unlike the other credits on this list, the STAR credit isn’t an income tax credit. You only need to sign up once, then you will be automatically sent a credit each year you are eligible.

The beauty of tax credits

One of the best things about all of these credits is just that: They’re credits. Unlike deductions, which only reduce how much of your income is subject to tax, credits come right off of your final tax bill.

Even better, some income tax credits are refundable. In that case, you can not only reduce your tax bill to zero, you could potentially come away with a refund thanks to refundable tax credits.

That’s one of the many reasons it’s important to know all of the potential tax breaks you could qualify for before you file. If you’re at all worried you might be missing out, look for a reputable tax software to help you, or go analog and hire an actual accountant. Meeting face-to-face (or even screen-to-screen) with a professional can be a great way to get a deep dive into your finances. Happy filing!

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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CDs are a great way to grow your wealth, but you could face penalties for early withdrawals. Find out what you need to know. [[{“value”:”

Certificates of deposit (CDs) are a great option to grow your wealth while still keeping your money safe. And there’s never been a better time to invest in one. The best CD rates right now are hovering around 5%. That could put quite a bit of money in your pocket, assuming you can leave your cash alone until the CD term ends.

Withdrawing money from your CD early is possible, but there are usually consequences. Here’s what you ought to know if you’re thinking about opening one.

What are the penalties for closing a CD early?

CDs give you a high interest rate because you’re agreeing to leave your money untouched at the bank for a certain amount of time, possibly even years. More money in bank accounts gives the bank a greater ability to lend money to other customers.

The bank doesn’t want you to take your money out unexpectedly, which is why most CDs carry a penalty for early withdrawals. Exact fees vary by bank, but you’ll typically lose several months of interest payments. It’s possible you could even lose some of your principal if you withdraw the money within a few months of depositing it, since the fee might be higher than the amount of interest you’ve earned at that point.

In addition, you’ll probably have to pull the full amount out of the CD; you can’t just take what you need and leave the rest to grow. You usually can’t make any additional deposits to the account once it’s open either.

If you wanted to leave some of your money in a CD and spend the rest, you’d have to close your existing CD, pay the penalty, and open a new CD. It’s possible that rates on future CDs won’t be as high, so this might not be your best move.

What should you do if you don’t think you can leave your CD alone?

If you don’t think you can leave your CD funds untouched for the entire CD term, a CD probably isn’t the right fit for you. You may want to consider a high-yield savings account instead. These can still offer impressive interest rates that are on par with the highest CD rates, but they also make it easier to access your funds.

Most banks permit you to withdraw your savings account funds as needed, though some may impose limits on how many fee-free withdrawals you can make per month. There may also be restrictions on how much you can withdraw per day. Check with the bank to learn more.

You could also try seeking out a no-penalty CD. These are less common than traditional CDs, but they allow you to withdraw your money at any time without penalty. However, they generally have lower APYs than traditional CDs do, and you may still have to withdraw all your money at once.

You could also opt for a short-term CD if you’d rather. These are actually the ones with the most competitive rates at the moment. Think about when you expect to need the money and decide upon a term that will suit you. Then, explore the CDs with the most competitive rates for those terms.

These savings accounts are FDIC insured and could earn you 11x your bank

Many people are missing out on guaranteed returns as their money languishes in a big bank savings account earning next to no interest. Our picks of the best online savings accounts could earn you 11x the national average savings account rate. Click here to uncover the best-in-class accounts that landed a spot on our short list of the best savings accounts for 2024.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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Shopping at Aldi could save you hundreds of dollars a year. Find out how Aldi is consistently ranked as one of America’s lowest-cost grocery stores. [[{“value”:”

If you’re looking to cut your grocery bill, it’s well worth a visit to your local Aldi. You’ll find a wide selection of goods, including organic, vegan, and gluten-free options. And the prices are often significantly cheaper than premium stores, which could add up to hundreds of dollars of savings.

Aldi’s money-back guarantee puts it head and shoulders above the competition. You can try its own-label products, safe in the knowledge the store will give you a refund and replacement if you’re unhappy with your purchase.

With over 2,360 U.S. stores, many of us already have a nearby Aldi. If not, the chain has ambitious expansion plans, so watch out for a store opening near you. Plus, its recently revamped website makes it easier than ever to shop with Aldi online. As long as you’re willing to park your shopping cart and bring your own bags, you could be in for a pleasant surprise. Here are 10 reasons to give Aldi a try.

1. Aldi was crowned lowest-cost supermarket six years running

Aldi’s low prices have eased the pressure of inflation for many shoppers in recent years. The store keeps costs low by focusing on what’s essential. And it works. Aldi ranked third in Dunnhumby’s list of low-cost supermarkets last year. That’s after topping the list for six years running before that.

Dunnhumby’s annual grocery store awards also recognized Aldi’s speed. Fast checkouts, wide aisles, and smaller stores mean shoppers can save time as well as money.

2. Aldi’s Twice as Nice Guarantee

Aldi is committed to value and quality. Indeed, the chain is so confident in the quality of its products that it has an impressive return policy. If you’re not satisfied with something you buy at Aldi, it’s “Twice as Nice Guarantee” says you can get both your money back and a replacement.

To claim, you need to take the remainder of the product, its packaging, and a receipt to your local Aldi store within 90 days. If you don’t have the receipt, you’ll get an Aldi gift card for the product’s price rather than the money back. The guarantee does not apply to non-food items, name-brand products, or alcohol.

3. Shopping at Aldi can save you hundreds of dollars

The average American household spends $779 per month on food, according to The Motley Fool Ascent research. The more you can cut this bill and still eat well, the more you’ll have in your bank account for other things.

To find out how much of a difference switching stores can make, we compared online prices at Walmart and Aldi on a small basket of goods. Aldi came in cheaper on everything except for a bag of onions. Overall, our shopping cost almost 7% less at Aldi. If you multiply this by the average American’s grocery spend, it comes out at over $50 a month or $650 a year in savings.

4. Use Aldi’s weekly deals to score extra savings

Aldi does not have a loyalty program, but its weekly deals can be a great way to save even more money. Check the website or sign up for the weekly ad email which will arrive in your inbox every Wednesday. You could also install Aldi’s mobile app to track deals directly from your cellphone. If you spot a particularly good deal, click to add it to your in-app or on-site shopping list.

Aldi has weekly deals on essentials such as fruit, vegetables, and meat. For example, at the time of writing, the deal included chicken drumsticks at $0.99 per lb — about 40% less than the price elsewhere. Keep an eye out for extra discounts when you’re in the store too.

5. Aldi’s got a new, shiny online store

Aldi recently revamped its online store to make it much easier to use. Visit the website to order groceries for pickup or delivery direct to your door. To create an account, you’ll need to enter your name, address, and other personal details.

It’s much better value than using Instacart or other third-party services. In addition to food and groceries, you can buy clothes, kitchen supplies, home decor products, and more online. You can’t yet shop via Aldi’s mobile app, though you can use it to create a shopping list.

6. Your Aldi shopping could earn cash back app and credit card rewards

It’s hard to imagine now, but there was a time when Aldi did not accept credit cards. These days, Aldi customers can use any major credit card at the checkout and earn points on that spending. SNAP participants can also pay in store with their EBT cards.

Using cash back apps is slightly more complicated because Aldi stocks so many in-house products. Look for apps like Checkout 51 and Fetch which accept a wider range of receipts. Combining cash back apps with credit card points can mean extra rewards on your everyday shopping.

7. You’ll love Aldi’s own-brand products

When you enter an Aldi for the first time, you may not recognize a lot of the packaging. That’s because about 90% of Aldi products are its own goods. Unlike Costco’s Kirkland line, you’ll find a mix of Aldi brands including Simply Nature, Specially Selected, Pueblo Lindo, and others.

Aldi says that a third of its own-brand products are award-winning. Indeed, many TikTokers can’t tell the difference between Aldi goods and their branded relatives. Do your own taste tests to see which of Aldi’s own-brand products you and your family enjoy.

8. Aldi has a solid organic product range

When I first started shopping at Aldi, there were hardly any organic carrots in sight. You’d have to go elsewhere for organic produce. These days, Aldi has a decent organic line up, including a wide mix of fresh fruit, vegetable, and salad options. Its organic range also includes canned goods, dairy, snacks, sauces, and more. Look for the USDA certified organic stamp on Aldi’s Simply Nature branded items.

If you have food intolerances or allergies, Aldi has a good range of lactose-free and gluten-free products. Vegans and vegetarians will also find a solid range of options, as will those who are trying to avoid genetically modified foods.

9. Aldi has over 2,360 U.S. stores

Aldi was born in Europe and opened its first American store almost 50 years ago. It now has over 2,360 stores in 39 states. With 215 stores, Illinois has the most Aldis of any other state. Check out the store locator to find out whether there’s an Aldi near you.

Progressive Grocer recently ranked it the 26th biggest player in grocery retailing, and the chain has ambitious expansion plans. For example, last summer, Aldi acquired 400 Winn-Dixie and Harveys Supermarket stores. If regulators approve the deal, it will strengthen the chain’s presence in the Southeastern states. ​​

10. It may be no-frills, but Aldi’s still an enjoyable place to shop

Aldi has kept prices down by keeping things simple. But it would be a mistake to assume the stores are run down. Most Aldis are deliberately small, clean, well-organized, well-lit, and pleasant places to be.

To get the most out of your shop, it’s important to know what Aldi does — and doesn’t do. For example, you will need to bring your own bags and park your own shopping cart (you’ll also need a quarter to unlock it). Also, don’t expect to shop at all hours. One reason Aldi’s prices are low is that you’re not paying for staff to work through the night.

The bottom line

Aldi is more than just another budget supermarket. It cuts costs by keeping things simple, but without sacrificing quality. Plus, if you’re nervous about trying non-branded products, Aldi’s generous refund policy has you covered. You can try Aldi’s own label goods, safe in the knowledge that you can get your money back if it wasn’t what you expected. So dig out a quarter for your shopping cart, check the weekly deals, and see whether you could save money at Aldi.

Alert: our top-rated cash back card now has 0% intro APR until 2025

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Emma Newbery has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale and Walmart. The Motley Fool has a disclosure policy.

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Being childfree may come with greater financial flexibility. Learn how making these smart moves can set you up for fewer money worries. [[{“value”:”

Childfree folks are a growing part of the population. A 2021 survey from the Pew Research Center found that 44% of those without kids (age 18-49) said that it’s not too likely or not at all likely that they’ll end up becoming parents. This was an increase of 7% over 2018 findings.

As a childfree American myself, I’m well-versed in the personal finance differences between parents and non-parents. If you’re creating a fabulous life without kids, these tips are for you.

1. Build emergency savings

Even without kids, life is expensive and absolutely unpredictable. An emergency car repair, a trip to the urgent care clinic, or an HVAC service appointment could each throw a wrench into your personal finances. The solution? A solid emergency fund. Experts recommend saving three to six months of bills to help you tackle an unplanned expense or even cover your expenses should you face a layoff at work.

If that sounds like an impossible figure to save, don’t worry — you can build savings over time, and a high-yield savings account can help your money grow even faster with interest. Any amount of extra cash saved can help you avoid debt when your car starts making a suspicious clunking sound.

2. Lower your taxable income

Childfree folks don’t get those tax breaks that parents get, but that doesn’t mean we’re stuck paying higher taxes. Rather than resign yourself to writing a fat check to the IRS every spring, explore ways to lower your taxable income.

One smart way to do this is to put as much as you can into tax-advantaged retirement accounts, like a 401(k) plan offered by your employer. The contribution limit on a 401(k) is on the high side — $23,000 for 2024 (and $7,500 more if you’re age 50 or older), so don’t feel like you have to meet it. It is worthwhile to at least earn your full employer match, if you’re eligible for one.

Let’s say you earn $60,000 this year, and your employer will match your contributions up to 3% of your salary. If you put in that 3%, it’ll turn into 6% with the match — that’s $3,600. If your investments earn an 8% return (more conservative than the stock market’s long-term 10% average annual return), $3,600 can turn into more than $36,000 over 30 years. Not bad.

Don’t have access to an employer retirement plan? Never fear — you have options for other investment accounts. A traditional IRA will give you an upfront tax break, while a Roth IRA gives you tax-free growth and withdrawals in retirement.

3. Invest in yourself

For me, this is an unsung benefit of opting out of having children. Since we aren’t paying for the myriad costs of raising children (from diapers to tuition), this frees up our money and time to grow as professionals, and indeed, as people.

Putting effort into boosting your job skills (say, by taking classes or attending conferences in your field) can pay off in the form of higher wages and more opportunities. You might even be in a better position to survive a round of layoffs at your company if you’ve managed to become the kind of employee who is indispensable.

4. Embrace flexibility in your working life

Going along with investing in yourself, being childfree can come with opportunities to build a flexible life. This can be especially advantageous in the realm of your career. If you had kids, you’d be concerned about finding a job in an area that had good schools for them (or finding a fully remote job that allows you to live anywhere). You’d also need a role that lets you fulfill your many parenting duties.

People without kids don’t need to worry about designing their working life around parenthood, so you can lean in on pursuing roles in places where you want to live. You might even consider becoming a digital nomad and taking your work with you around the world. Starting a small business might be more feasible for you, too. If any of this sounds appealing, start doing the research to see if you can make a more flexible and fulfilling work arrangement fit into your life.

No matter how you slice it, people without kids have a lot of opportunities to make our money work for us. Lean on the above tips to come out ahead financially.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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Want to get a bigger refund on your 2023 taxes? The IRS offers free tools and tax help. See if you qualify for Direct File, Free File, and more. [[{“value”:”

It’s the most wonderful time of the year: tax season! It’s like Christmas for accountants! But even though no one loves to pay taxes, filing your tax return can give you a sense of completion and clarity. Knowing how much tax you owe — or how big of a refund you’ll get — is like an annual check-in for your personal finances.

For many Americans, getting a tax refund from the IRS is good news. According to the most recent IRS data as of Feb. 23, 2024, the average 2023 tax refund was $3,213. This can be a much-appreciated financial windfall that families use to pay off debt, pay bills, boost their savings, or splurge on something fun.

If you want to get the biggest tax refund, it’s important to understand how your tax return works, and claim all the deductions and tax credits that you deserve. Let’s look at a few essential tools to maximize your tax refund in 2024.

1. IRS Interactive Tax Assistant (ITA)

The IRS website is not always easy to navigate, but fortunately the IRS offers a helpful search tool called the Interactive Tax Assistant (ITA). If you enter simple search terms, like “estimated tax payment” or “standard deduction,” it will pull up relevant search results that can help you get the answers you need.

2. Tax Withholding Estimator

One of the biggest reasons why you get a big tax refund (or not) is the amount of tax that gets withheld from your paycheck throughout the year. If you have a surprisingly small refund (or worse: owe taxes), it might be because your withholdings are too low.

Use the IRS Tax Withholding Estimator to see how your tax refund might be bigger (or smaller) based on changes you could make to your W-4 form at work. If your tax withholdings change, your take home pay might be bigger (or smaller). For example, if you decide you want a bigger tax refund, you can change your withholdings to make this happen — but you might have $100 less in your paycheck each month.

If you’re a parent, your withholdings (and your tax refund) might also change depending on the ages of your children. For example, most children no longer qualify for the $2,000 Child Tax Credit after they turn 17. If your withholdings aren’t set to the right level, you might end up with a surprise tax bill.

3. Free tax help

Most of the information that people need to maximize their tax refunds is on the IRS website, but it’s not always presented in a clear, readable way. The bureaucratic, technical IRS legalese is not always easy to understand. Sometimes even savvy taxpayers need some extra help.

If you have questions about filing taxes, you might qualify to get free tax help so you can file your tax return with confidence. The IRS offers two programs for free tax return preparation help.

Volunteer Income Tax Assistance (VITA)

To qualify for VITA, you need to have an income of $64,000 or less. This program also helps people with disabilities and people who are non-native English speakers/English language learners.

Tax Counseling for the Elderly (TCE)

The TCE program helps people who are age 60 and over, with special support for questions related to retirement income, pensions, and other tax issues for seniors.

Both of these programs are free, with services provided by IRS-certified volunteers. Use the IRS website to search for free tax help near you, based on your ZIP code. Getting free tax help can empower you to understand your tax situation, get the right deductions that you deserve, and file your tax return with confidence.

4. Direct File (in some states, if you qualify)

The IRS is testing a new way for people to file taxes for free, starting with 2023 tax returns, called Direct File. But not everyone can use Direct File yet — as of the April 2024 tax season, Direct File is still a pilot program, and it’s only available in 12 states and for certain taxpayers.

With Direct File, you don’t have to use tax software (even free tax software) for your federal return, because you can file “directly” with the IRS. After you file your federal return, if you need to file a state income tax return, the Direct File tool will direct you to an appropriate state-level tax-filing solution for your needs.

Direct File is a good way to maximize your tax refund because it works like tax software, but it’s totally free. The exact eligibility requirements for the Direct File pilot program depend on your state and your tax situation; people with the simplest tax returns and common filing statuses are most likely to qualify. Find out more information at the Direct File website.

5. Free File (if your income is below the limit)

Not everyone has to spend money on tax software. If your adjusted gross income (AGI) is $79,000 or less for 2023, you can use IRS Free File to file taxes for free by using tax software from IRS-approved partners. Some of the IRS Free File partners include TaxAct and TaxSlayer, which both made The Ascent’s list of best tax prep software companies.

Bottom line

You are not on your own in filing your taxes. If you can’t afford professional tax help, you might qualify for IRS Free File, Direct File, or free tax help from IRS-certified volunteers. Whether it’s free or paid, use tax software to maximize your refund and have a more peaceful tax season.

Alert: our top-rated cash back card now has 0% intro APR until 2025

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a lengthy 0% intro APR period, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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