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Roth IRAs Good for Your Savings Plan

Good things come to those who wait—for a tax break***. Although you fund a Roth individual retirement arrangement (IRA) with after-tax dollars, the money you distribute is completely tax-free as long as it meets certain requirements. And that means a really good thing—you may never pay a cent of tax on your earnings. That might […]

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What’s the Difference Between a Tax Credit and a Tax Deduction?

At Mid Oregon Credit Union we realize that properly handling income taxes helps make our members financially successful. For those of us who have done our taxes for years, we have many of the tax basics down. But what about those who find themselves newly facing the tax challenge? Understanding tax concepts and terms can […]

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Meeting Needs

Raising Grandchildren Can Lead to Financial Challenges

Increasing numbers of grandparents are becoming primary caregivers to their grandchildren, a new role. Many have found raising grandchildren can lead to financial challenges. Don’t Take On New Debt Because many grandparents are in their 50s or older, it’s important to avoid taking on new, large debts or willingly sacrificing retirement savings plans—there’s not enough […]