How to make the most of the child tax credit this year

Posted at 10:07 AM, Feb 14, 2018
and last updated 2018-02-14 10:07:01-05

News 3 is taking action to help you make the most of your money this year.

If you've got kids and are worried about paying for college, financial professional Michael Mason from Mason and Associates says the child tax credit could help you out.

The tax credit doubled this year; it's now worth up to $2,000 per child.

Mason says when you do your taxes you should think of that money like a gift from the government and start investing it for your child's future.

"If your friends did that, every year got together and gave you two grand, then they woke up 17 years later and ask you, 'what'd you do with that money?' and you couldn't point a finger to the money, you'd feel bad.  Well, Uncle Sam and the rest of America is giving you $2,000.  What are you going to do with it?  Are you going to wake up 17 years from now and have a $50-70,000 head start on college or are you just going to think over the next 17 years, somehow we did our taxes perfectly and got an extra two grand back?" Mason said.

Click here for more of Mason's tips on getting financially secure this year.