529 College Savings Accounts
StreetCred supports you in saving for your child’s future. We understand that raising kids is financially stressful, and we know they have so much potential, so we want to help you reach your goals. Right now, Massachusetts is offering a program called Baby Steps where the state government will deposit $50 into a new 529 college savings account for a child born after January 1st, 2020. This is a tax-protected account that can help your money grow faster than regular savings accounts. You will never have to pay fees and the $50 will grow without any contributions from you. We understand families may find it difficult to save during the pandemic, but we want to ensure you have access to free money from the state. You can always contribute more in the future. StreetCred can assist you with opening an account even if your child was born before January 1st, 2020. Additionally, you won’t lose benefits when you save money in these accounts. Please consider allowing StreetCred to help you open an account today, it only takes around 10 minutes.
Dealing with your finances can be stressful, but StreetCred can help! We are currently partnering with the Foundation for Financial Planning to offer virtual coaching sessions with CFA’s (Certified Financial Coaches). We can pair you with a free, qualified financial coach who can help answer any financial questions you may have. How many times you meet with this coach is up to you. You can meet with a coach once to get a specific question answered, or multiple times to work on a financial goal. Coaches can help with topics such as developing a budget, opening a bank account, saving for a car or a home, budgeting so you can pay your rent on time, and building your credit. Session times are flexible and we can work within your schedule!
StreetCred offers free tax preparation using IRS certified volunteer preparers for families who make under $56,000 per year. We specialize in the Earned Income Tax Credit and the Child Tax Credit, making sure you get the money you deserve. The Earned Income Tax Credit (EITC) is a refundable credit for low to moderate-income working individuals which means the money you get back is dependent on income and the number of children. Plus, you get $2,000 per eligible child dependent under the age of 17. We can also assist persons with disabilities, the elderly, and limited English speakers who need help with tax preparation. Traditionally, our tax preparation services are conducted onsite but due to COVID-19, we are working on offering virtual assistance. (coming soon.)