Photo: Monkey Business Images (Shutterstock)

Yesterday the IRS has launched a new portal to help you manage prepayments on the recently expanded child tax credit of up to $ 3,600 per child. The tax credit is complicated – as it is based on your estimated 2021 income – so be sure to use the portal to update your income and child dependency status (or opt out if you’d rather get a lump sum credit when filing your taxes) ). Here’s what you need to know.

How much is the child allowance worth?

The American Rescue Act increased the child tax credit from a maximum of $ 2,000 to $ 3,600 per child (but this varies based on income), with half that amount on the 15th month through the end of the year, either as a check or as a direct deposit .

These prepayments are limited to a maximum of $ 300 per month for each eligible child ages five and younger and $ 250 per month for children ages six to 17. This Lifehacker post provides more details on how the income limits work.

What does the Child Tax Credit Update Portal do?

For now is the Child tax credit update portal checks your eligibility for the payments and enables you (if you wish) to refuse to receive the monthly payments. However, per CNET, the portal will also be updated during this summer so that you can update your bank account information and mailing address and most importantly your income or Custody status.

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Why is that important? Because the prepayments are based on estimates based on your 2019 or 2020 income, your actual 2021 income may differ from what the IRS expects. For example, you could get a raise this year that would exclude you from being credited, forcing you to repay the prepayments later when you file your 2021 tax return. On the other hand, you may have had a child in 2021 that could entitle you to receive more cash as part of your prepayments. By keeping your income and child status updated, you can claim the money owed you with no surprises.

The opt-out option can be useful if you already know that your 2021 income will exclude you from the advance payment or another parent is already claiming your children as dependent.

Two other child tax credit tools to keep in mind

Yesterday the IRS did one too Child Child Tax Credit Eligibility Assistant, a questionnaire-like tool that can help you determine whether you are eligible for child tax prepayments.

Since the IRS also uses the income listed on your previous tax returns to determine if you qualify for the child tax credit, a Registration tool for non-filers was created for low income earners who typically do not file an income tax return (not required if you are making less than $ 12,000). For more information on how this tool works, see check out this Lifehacker post.

Do you know how to clean your blinds? Or do you just leave them there until they are so dirty that you have to throw them away and buy new shutters? This is disgusting, don’t do that.

In the video above, you can see the correct method for cleaning dirty, dusty, and even greasy (if they’re in the kitchen) blinds. Do you suffer from dust allergies? Well you are going to need this video even more as your dirty blinds may make your life worse.

We start with a simple vacuum cleaner and then the cleaning methods become more intense depending on the coarseness of the blinds, so choose the technique that is right for you.

This article was originally published July 10, 2019 and was updated June 23, 2021.

Photo: Afrika Studio (Shutterstock)

Whether you’re making meatballs, meatloaf, or any other food that requires seasoning a mass of raw ground beef, predicting the outcome can be difficult, especially when you’re working with a new recipe, a vague recipe, or any other recipe that You have developed yourself.

Tasting and customizing is easy when making sauces, soups, dips, and meatless dishes, but seasoning “to taste” is a bit tricky when the main ingredient is not only eaten raw but tastes dramatically different once cooked. The good news is, you can try your meatloaf a little before it goes all in the oven – all you need to do is make a tiny, precious, little test patty.

Your test patty won’t taste exactly like your meatloaf or ball because of the larger surface area and browning, but it tastes close enough to give you a good idea of ​​how flavorful your mix is. All you have to do is take some of your raw, seasoned meat, shape it into a small patty, and fry it in a pan. (I usually use non-stick coating for convenience.) Cook it. Allow to cool slightly. Put it in your mouth. Chew it. Swallow it. Think about it. Draw your conclusions and add more flavor to your meatloaf or balls if needed. Repeat this process until the meat tastes the way you want it, but don’t go too wild. There is, of course, a limit to how often you can do this. Even small test patties can take their toll on your loaf, so keep the number of tests to a maximum of three and don’t consume more than a teaspoon of meat mix at a time. (Otherwise you could end up with half a meatloaf, and I’d hate that for you.)

Photo: Fuchsbau (Shutterstock)

You may have heard of people “troubledThrough credit card welcome offers, but what about bank bonuses? Many banks offer $ 400 cashback or more when you sign up for a new checking account, and it is certainly possible to scroll through new accounts just to collect bonus money. Banks don’t want to make it easy for you, so there are a few factors to consider: You need to start with a sizeable bankroll.

Can you really make money with bank accounts?

Yes, it is possible – serious bank bonus graduates claim they can get around $ 500- $ 1,500 per year from practice after paying taxes (yes, these premiums are taxed as income). Requirements can vary by bank, but the steps are relatively simple, provided you have a bankroll of between $ 1,000 and $ 10,000 that you can sit around for an extended period of time. To qualify for a bonus, you may need to do one or more of the following within a few months of opening an account:

• Save a minimum amount in dollars by making direct deposits from your employer or the government.
• Achieve a spending goal by shopping with your debit card.
• Deposit a certain amount of money and leave it there for a set period of time (often the more you deposit, the bigger the bonus).

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The bonuses usually range from $ 50 to $ 400. So making money with a few new accounts isn’t hard, provided you’re organized and ready to do your homework. And it is necessary to do your homework, as there are certainly disadvantages to be aware of.

The disadvantages of bank bonus churn

Since banks disapprove of churn (they only make these offers because they want to keep you as a customer), they won’t make it easy for you. Here are some of the obstacles you will face:

• Direct deposit restrictions: Many banks require one ACH direct deposit be set up in your account within a certain number of days. Usually this is not a big deal when paid by an employer or the government through direct transfer IRS. There are ways to set up direct transfers between different bank accounts so that you can manage the process yourself. but that can get complicated too.
• Cash in advance: To get the most out of your money, you may have to deposit thousands of dollars when you open the account and park it there for months (which can also help you avoid associated monthly fees). Not everyone has $ 10,000 lying around, but you need a portion that size to take advantage of the bigger bonuses.
• Limitations in the fine print: Every bank is different and the bank you target may limit the number of accounts you can open within a year, impose transaction or balance fees, or require a certain number of transactions each month. Most accounts only require a gentle credit check open an account (which won’t hurt your creditworthiness), but you should double-check the terms and conditions to make sure you don’t affect your creditworthiness in the process.
• Banks can limit your options for opening a new account. This is a significant risk, as many banks use so-called ChexSystems to monitor your application process across multiple financial institutions. If you open too many accounts in a year, a bank can essentially blacklist you for a few years, and Dealing with it can be a real agony. Worst of all, there is no fixed number of how many accounts you can safely open, which is why bank bonus graduates closely monitor the rejection rates of various banks.

Bottom line

It makes sense to chase after a few bank bonuses – especially if you get a good deal – but if you want to maximize your winnings, prepare yourself for a time-consuming hassle. Turning this into a part-time job probably isn’t worth the risk of being blacklisted by banks, but there is definitely cash to take with you.