Caregiver Money Management

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Tax Preparation and Planning

See these great resources for tax preparation and retirement planning.

Child Tax Credit 

The Child Tax Credit helps families with qualifying children get a tax break. You may be able to claim the credit even if you don’t normally file a tax return. 

Child and Dependent Care Credit 

The Child and Dependent Care Credit is a tax credit that may help you pay for the care of eligible children and other dependents. 

American Opportunity Tax Credit 

The American Opportunity Tax Credit (AOTC) is a credit for qualified education expenses paid for an eligible student for the first 4 years of higher education. 

Lifetime Learning Credit 

The Lifetime Learning Credit (LLC) is for qualified tuition and related expenses paid for eligible students enrolled in an eligible educational institution. This credit can help pay for undergraduate, graduate and professional degree courses. 

Washington State Working Families Tax Credit 

The Washington State Working Families Tax Credit is for individuals and families in Washington state who may be able to receive up to $1,200 back if eligible. 

Tax Credit for the Elderly or the Disabled

The Credit for the Elderly or the Disabled helps retired taxpayers on permanent disability to get a tax credit based on qualifying income.

Medical Expense Deductions

The Medical Expense Deduction applies only to expenses not paid by insurance. Expenses may be covered if you made payments for the medical expense directly or if payment is made on your behalf to the doctor, hospital, or other medical provider.

Washington State ABLE Savings Plan

A Washington State ABLE Savings Plan is a flexible and convenient way for people living with disabilities to invest in their quality of life.

Earned Income Tax Credit (EITC)

The Earned Income Tax Credit (EITC) helps low- to moderate-income workers and families get a tax break. If you qualify, you can use the credit to reduce the taxes you owe – and maybe increase your refund.

Saver’s Credit

The Saver’s Credit helps you take a tax credit for making eligible contributions to your IRA or employer-sponsored retirement plan.

Tax preparation help

AARP Foundation Tax-Aide provides free tax assistance to anyone, with a focus on taxpayers over age 50 and have low to moderate income.

IRS Free File

IRS Free File lets qualified taxpayers prepare and file federal income tax returns online using guided tax preparation software. It’s safe, easy and no cost to you.

IRS: Free tax preparation by volunteers

The IRS’s Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs offer free basic tax return preparation to qualified individuals.

Please contact a tax preparation professional if you need more assistance.

Please contact a tax preparation professional if you need more assistance.

How much will I have for retirement?

Online retirement calculators are an easy way to see how much money you might have when you retire. All you need to do is enter your financial information into the calculator to see an estimate. The information you enter is anonymous and all estimates are for educational purposes only.

  • AARP’s Retirement Income Calculator can give you a personalized look at what your finances might be like when you retire. This calculator includes many aspects of your retirement planning, such as your personal savings, employer accounts (like your Secure Retirement Plan) and your lifestyle.
  • Retirement: My Plan also has a retirement calculator that you can use to estimate your future Secure Retirement Plan balance. With Retirement: My Plan, you can also name a beneficiary or request a distribution.

Other Trusted Resources

More resources to help you plan and save.

When you log in to Retirement: My Plan, you will be taken to Milliman’s website to see your SRP information. Your information is always confidential.

Washington’s Retirement Marketplace is a secure website where businesses and individuals can comparison shop state-verified, low-cost retirement savings plans, such as Individual Retirement Accounts (IRA): 

  • Aspire: Aspire is one of the IRA providers found on the Washington Retirement Marketplace. They offer financial planning resources in addition to their Individual Retirement Accounts at affordable rates. Learn more or call Aspire directly at 1-206-939-5615. 
  • FinHabits: FinHabits is one of the IRA providers found on the Washington Retirement Marketplace. FinHabits provides diversified portfolios at affordable rates. Learn more or call FinHabits directly at 1-800-492-1175. 

Resources through Washington’s Retirement Marketplace are available in 5 languages.

Wherever you are in your retirement planning, you can use CFPB’s Consumer Tools to help you get prepared. Resources are available in 8 languages. 

  • It can be hard to make a budget yourself. You can also use this budget worksheet you can fill in to have a budget calculated for you. 

Time Is Your Best Savings Friend. Watch How Your Money Grows!

Secure Retirement Employers

Employers that contribute to the retirement fund:

  • • State of Washington (Individual Providers)
  • • Addus HomeCare
  • • Amicable HealthCare
  • • Catholic Community Services
  • • CDWA
  • • Chesterfield Services
  • • Concerned Citizens
  • • First Choice In-Home Care
  • • Full Life Care
  • • Korean Women’s Association
  • • Millennia
  • • All Ways Caring