Creating Assets, Savings & Hope
Posted October 31, 2016
A credit for the costs of care for a qualifying individual to allow you to work or look for work. The dollar limit on the amount of the expenses you can use to figure the credit is $3,000 for the care of one qualifying individual or $6,000 for two or more qualifying individuals. The amount of your credit is… Read more
Posted October 31, 2016
A credit to help low- and moderate-income workers, who have an adjusted gross income (AGI) that does not exceed $30,000 ($45,000 if head of household; $60,000 if married filing jointly), save for retirement. Find out more information about this credit here. Read more
Posted October 31, 2016
The Earned Income Tax Credit, EITC or EIC, is a benefit for working people with low to moderate income. To qualify, you must meet certain requirements and file a tax return, even if you do not owe any tax or are not required to file. EITC reduces the amount of tax you owe and may… Read more
Posted September 23, 2016
Gene Wiemers helping Ruth Mueller with her 2015 taxes. Last year, Midcoast CA$H helped return more than $730,000 in federal refunds and an additional $174,917 in Maine State refunds to taxpayers who needed to pay bills, mortgages, buy food, heating fuel, start a savings account or save for an education – all for free. … Read more
Posted September 6, 2016
According to the Maine Center for Economic Policy “Payday loans notoriously carry high APRs (annual percentage rate). In Maine, the rates are as high as 217%! Strategically located in low-income neighborhoods or on the internet, payday lenders intentionally trap borrowers in debt that they cannot escape. The average payday borrower is trapped by ten transactions… Read more
Posted August 30, 2016
Many parents worry about how they will pay for their children’s college tuition. In Maine, the NextGen College InvestingⓇ Plan has helped many Maine families to relieve some of this anxiety. Since 2002 the NextGen College InvestingⓇ Plan has been a way for parents & guardians to save money for their children’s education. In recent… Read more
Posted August 25, 2016
The Financial Industry Regulatory Authority (FINRA) recently released the National Financial Capability Study (NFCS) based on data collected in 2015. This study provides data that focuses on 4 components that lead towards being financially stable, including Making Ends Meet, Planning Ahead, Managing Financial Products, Financial Knowledge and Decision Making. Compared to the nation as a… Read more
Posted August 16, 2016
Are you interested in taking a financial class this fall? Here are the options that will be offered through our partner New Ventures Maine: My Money Works Farmington-Starting 8/24 South Portland-Starting 9/19 Augusta-Starting 9/20 Rockland-Starting 10/5 Lewiston-Starting 10/25 Budgeting Basics Lewiston-Starting 8/30 Turner-Starting 10/11 Strong-Starting 10/19 Bethel-Starting 10/26 Clean Up Your… Read more
Posted July 28, 2016
Shared with permission from the National Disability Institute. Check out the National Disability Institute’s campaign DISABLE POVERTY to increase awareness of Americans with disabilities. The National Disability Institute (NDI) announced the launch of its grassroots campaign, DISABLE POVERTY on July 26, 2016, the 26th anniversary of the American with Disabilities Act (ADA), to increase… Read more
Posted July 8, 2016
Divin Gatera (left) sits with Western Maine volunteer, Dahir Muktar. Divin Gatera is a 22 year old volunteer tax preparer with Western Maine CA$H. A national from Rwanda, Divin is a junior at University of Maine at Farmington (UMF) pursuing a degree in Business-Economics with a minor in International Global Studies. After being referred… Read more
CA$H Maine is a statewide collaboration of ten coalitions, comprised of 50 non- and for-profit partners, working together to help empower Maine individuals and families to achieve long-term financial stability.