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The Good Life Report - Natural Ingredients to Look for in Your Products

“Anything you don't understand is dangerous until you do understand it.”

– Larry Niven

Can You Claim the Child Tax Credit for Other Dependents?

Even though you may not be able to claim the child tax credit, you may be able to claim the credit for other dependents under your care. The IRS issues a max of $500 for each dependent who meets specific conditions.

These conditions include:

  • Dependents who are age 17 or older.

  • Dependents who have individual taxpayer identification numbers.

  • Dependent parents or other qualifying relatives supported by the taxpayer.

  • Dependents living with the taxpayer who aren't related to the taxpayer.


The credit begins to phase out when the taxpayer's income is more than $200,000. This phaseout begins for married couples filing a joint tax return at $400,000.

Taxpayers may be able to claim this credit if:

  • They claim the person as a dependent on the taxpayer's return.

  • They cannot use the dependent to claim the child tax credit or additional child tax credit.

  • The dependent is a U.S. citizen, national, or resident alien.


This dependent credit may also be able to be combined with the child and dependent care credit and the earned income credit.

* This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax professional.

Tip adapted from IRS.gov1

Channel Your Natural Beauty

What you put on your body is just as important as what you put in your body. This is why more people are choosing natural skincare and beauty products. Natural ingredients are better for the environment and often gentler on your skin.

When looking for a natural beauty product, check its certifications. Most natural beauty products are certified organic or natural by outside organizations. As an added bonus, they can also be vegan or cruelty-free. You should also consider shopping for products that are non-toxic, palm oil-free, and produced with ethical ingredient sourcing policies and environmentally-friendly packaging.

Here are some of the most common natural ingredients to look for, depending on the product and your needs:

  • Aloe Vera

  • Almond Oil

  • Shea Butter

  • Coconut Oil

  • Antioxidants like Pomegranate or Orange Extract

  • Rosehip Oil

  • Sunflower Seed Oil

The list of powerful, effective, and safe natural beauty ingredients is always growing and we are moving toward a future of gentle, sustainable beauty products.

Tip adapted from Sustainable Jungle2


Ian bought a bag of apples on Friday and ate a third of them. On Saturday he ate half of the remaining apples. On Sunday he looked in the bag and found that just two apples were left. How many apples were originally in the bag?

Last week’s riddle: What can be seen in the middle of March and April, that can't be seen in the beginning or end of either month?  Answer: The letter “R.”

Bison below the Grand Teton Mountains in Jackson Hole, Wyoming.

We hope you enjoyed this Good Life Report. If you have any questions or comments, we would love to hear from you. You can call us at 612-492-0212, or email us at stein@steinfg.com. If you want to talk to a financial advisor, you can make an appointment online at https://bookwithsfg.timetap.com/. We are always happy to help in any way that we can!

Sources:
1. IRS.gov, February 11, 2021
2. Sustainablejungle.com, 2021