Tax Credits

Children are so wonderful in so many ways.  Fortunately, we also live in a country that tries to honor the family and provides nice tax credits for people with children.  This year, Dayna and I are benefiting from a $2,000 child tax credit ( $1,000 for each child ) that helped us achieve a nice refund from the IRS for $5,546.

I've decided to use the refund each year to fund a "children's expense" account that will assist with child-specific costs like The Little Gym, swimming and music lessons for the kids.  Since they are the ones providing the bulk of the refund, I felt like that money should be earmarked to fund their activities.

Along with the encouraging news provided above, I also feel compelled to comment on the looming recession.  Prior to today's stock freefall, my investments were down a full 10% from just 8 days ago.  Once the new figures hit my Quicken account, I'm guessing I'll see another 2 - 5% hit.  The market right now is not for the faint-hearted, but I'll remain steadfast in my diversified portfolio and again look for more bargains later this year as I store up cash for another purchase.  Good luck to everyone.