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Max Cash® Personal Finance Blog

We cover everything in personal finance from online loans to tips-and-tricks for better money habits. Discover something new with us today!

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February 5, 2025

What is the FICA Tax?

FICA is an acronym for a specific type of federal payroll tax. FICA stands for the Federal Insurance Contributions Act, and business owners are legally required to deduct this tax from each employee’s paycheck.  The main purpose of FICA is to help fund Social Security and Medicare programs, which provide benefits for retirees, disabled individuals,… Continue reading What is the FICA Tax?

January 6, 2025

Child Tax Credit 2024

What is the Child Tax Credit? Tax season is right around the corner, and many parents are gearing up to file their returns. The Child Tax Credit of 2024 is meant to give parents a tax break. This break can be up to $2,000 per eligible child. A portion of this credit (up to $1,700)… Continue reading Child Tax Credit 2024

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