Most Recent Manage Money News

Home Office Deduction: Do You Qualify?

Home Office Deduction: Do You Qualify?

As remote work and small business continue to gain popularity, more individuals are setting up home offices to create a...

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How to Report Rental Income and Avoid IRS Red Flags 

How to Report Rental Income and Avoid IRS Red Flags 

Key Takeaways:   All rental income must be reported—including monthly rent, advance payments, lease termination fees, utility overcharges, and amenity...

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An Overview of Estate & Inheritance Taxes

An Overview of Estate & Inheritance Taxes

Sometimes after a loved one dies, we must deal with grief, funeral planning, and an estate. In some cases, we...

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State Tax Liens vs. IRS Tax Liens: What’s the Difference? 

State Tax Liens vs. IRS Tax Liens: What’s the Difference? 

Key Takeaways:  State tax liens vary widely in how they’re enforced and resolved, while IRS tax liens apply nationwide and...

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When Does the IRS Pursue Criminal Charges?

When Does the IRS Pursue Criminal Charges?

Key Takeaways:  Most IRS interactions are civil, but willful violations of tax law—such as fraud, evasion, or false returns—can lead...

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How LLC Owners Should Pay Themselves to Minimize Taxes 

How LLC Owners Should Pay Themselves to Minimize Taxes 

Choosing how to pay yourself as an LLC owner is one of the most important financial decisions you’ll make as...

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Federal Tax Treatment of LLCs

Federal Tax Treatment of LLCs

Starting a business can be an exciting venture, but it also comes with numerous financial and legal considerations. One crucial...

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What is a SEP IRA? 

What is a SEP IRA? 

A Simplified Employee Pension Individual Retirement Account, commonly known as a SEP IRA, is a retirement savings plan designed for...

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The Tax Consequences of Winning the Lottery or a Big Prize

The Tax Consequences of Winning the Lottery or a Big Prize

Winning the lottery or a big prize can be lifechanging, whether it’s a multimillion-dollar jackpot, a luxury car, or a...

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The IRS Identity Protection PIN: Should You Get One? 

The IRS Identity Protection PIN: Should You Get One? 

Tax season can be stressful enough on its own, but for many, it comes with an added worry: identity theft....

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