Welcome to the latest Financial Friday Round-Up, our weekly column filled with the best things for you to read, watch or listen to regarding finance around the web. Below you will find a video on how to lower your tax bill, a podcast about home buying, an article on changing careers, and more.
Hire Your Kid and Save Thousands!
This interesting installment of the NASE Minute maps out how hiring your child can help benefit your standard deduction. It can be beneficial to hire your child and pay them a wage instead of an allowance, which counts as income that will generate no tax for you child and will also be fully deductible on your tax return. This video will walk you through the logic step-by-step.
Even You Can Buy a House With Cash
Cash offers on homes used to be only for the wealthy, but a new slew of companies are stepping in to purchase homes in cash on behalf of average buyers so they do not have to compete with rich investors in today’s hot housing market. If you think that sounds too good to be true, check out this episode from Planet Money examining how this could change the industry.
What’s Stopping You from Making the Jump to a New Career?
Feeling burned out at your current job? Are you not getting the flexibility you need or the compensation you deserve? Now is the time to make the jump to a new career, and this new list from Kiplinger could give you the motivation to make the switch — or even start a business of your own.
Can You File Taxes for Free With TurboTax? It’s Especially Complicated This Year
2022 is the first year that TurboTax is not part of the IRS Free File program, so those who were looking to use the platform to file their taxes for free may have to turn elsewhere. There are still a few no-cost options, but there are specific requirements you must meet first. Check out this article from Money for more information.
