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The contributions you make to your 401(k) plan can reduce your tax liability at the end of the year as well as your tax withholding each pay period. However, you don’t actually take a tax deduction on your income tax return for your 401(k) plan contributions.
While both tax deductions and tax credits can save you a significant amount of money on your taxes, they work in significantly different ways.
When you're a driver for a ride-sharing company such as Uber or Lyft, the most important thing to understand about your taxes is that you are probably not an employee of Uber or Lyft. Drivers for these companies are usually independent contractors, a fact that has tax implications, both at filing time and year-round.
Ah, good old summertime – what a wonderful relaxing time of the year. Unless you have kids, of course, in which case there’s a whirlwind of activity in your house as soon as school is out. But then comes the blessed time of summer camp, when peace is restored for at least a few days. Although camp can be expensive, keep in mind that some of those expenses may be tax deductible.
Whether you’re a seasoned business owner, newly self-employed or testing out a side-gig, TurboTax has you covered on tax tips, deductions, and tax forms for your business income. Rivermark Community Credit Union breaks down a few ins and outs.
Looking to add some power to your family finances? The equity in your home could be the answer. Opening an equity line of credit gives you an instant emergency fund as well as access to money for remodels, family vacations, college educations, and any other expenses that could otherwise break your budget. Here are a few ways to put your equity to good use in the new year.
Do you dream of owning your own home, but the thought of meeting with a lender frightens you? Perhaps you are afraid of being turned down, yet again, for a mortgage loan. Or maybe you are overwhelmed with the application process itself? After all, applying for a mortgage can often be complicated and frustrating. But it doesn’t have to be. If you fear you will never realize your dream of homeownership, we have some tips that may help you take the next step to make it a reality.
Rivermark recently made two important announcements related to its foundation, the Rivermark Community Fund of the Oregon Community Foundation. 1) The Rivermark Community Fund has aligned its mission to help make housing more sustainable, affordable, fair, and equitable in our community. 2) JOIN PDX has been selected as the 2019 recipient of a $20,000 grant from the Rivermark Community Fund.
Based on member feedback related to our checking accounts, we are improving the convenience and value of our Overdraft Protection Program. These improvements will take effect on Tuesday, December 3, 2019. Learn more about this exciting change and new improvements to our mobile app.
Ready to get in the holiday spirit? Oregon is full of fun holiday events and activities to get you in the mood for hot chocolate, candy canes, and Santa Clause. Kick the season off with a variety of family friendly events for you and your loved ones to enjoy.