Most Recent Manage Money News

Can You Get a Car Loan With IRS Debt or a Tax Lien? 

Can You Get a Car Loan With IRS Debt or a Tax Lien? 

Key Takeaways:  You can get a car loan with IRS debt or a tax lien but expect more scrutiny and...

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Why Did I Owe Taxes This Year? Common Reasons for a Surprise Tax Bill 

Why Did I Owe Taxes This Year? Common Reasons for a Surprise Tax Bill 

Key Takeaways:   Unexpected tax bills often result from not updating your W-4 form after major life changes or income...

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How to Track Business Expenses for Taxes

How to Track Business Expenses for Taxes

Key Takeaways:  Tracking business expenses helps reduce taxable income and ensures IRS compliance.  Deductible expenses must be “ordinary and necessary”...

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Understanding IRS NFT Reporting Requirements and Compliance 

Understanding IRS NFT Reporting Requirements and Compliance 

Key Takeaways:  The IRS classifies NFTs as digital assets and requires brokers to report NFT transactions under new tax rules...

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Can You Deduct Therapy? | Optima Tax Relief

Can You Deduct Therapy? | Optima Tax Relief

Key Takeaways:  Therapy is tax-deductible if it is medically necessary and provided by a licensed professional.  You must itemize deductions...

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How Inherited Property is Taxed

How Inherited Property is Taxed

Key Takeaways:  You don’t pay income tax when you inherit property, but you may owe capital gains tax if you...

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Top 5 Tips to Avoid an IRS Audit in 2025

Top 5 Tips to Avoid an IRS Audit in 2025

Key Takeaways:   AI is reshaping IRS audits by detecting income mismatches, suspicious deductions, and multi-year patterns with greater precision. ...

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Can the IRS Take My 401(k)?

Can the IRS Take My 401(k)?

Key Takeaways:  The IRS can seize your 401(k) if you’re eligible to withdraw funds. Retirement accounts are not immune to...

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Social Security Survivor Benefits and Taxes

Social Security Survivor Benefits and Taxes

Key Takeaways:  Social Security survivor benefits provide income to widows and eligible family members based on the deceased spouse’s earnings...

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How AI Tools Are Changing Tax Prep and What to Watch Out For 

How AI Tools Are Changing Tax Prep and What to Watch Out For 

Key Takeaways:  AI tools are changing tax prep by automating data entry, categorizing expenses, and helping users identify deductions faster. ...

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