Most Recent Manage Money News

Tax Pros and Cons of Hiring Family in Your Business

Tax Pros and Cons of Hiring Family in Your Business

Key Takeaways:   Hiring family in your business can provide trust, reliability, and flexibility, making it easier to fill roles...

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Should I File as an S Corp? Pros, Cons, and Tax Considerations  

Should I File as an S Corp? Pros, Cons, and Tax Considerations  

Key Takeaways:  S corps can reduce self-employment taxes by allowing owners to take part of their income as distributions, which...

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Can You Reapply for an Offer in Compromise After It’s Denied? 

Can You Reapply for an Offer in Compromise After It’s Denied? 

Key Takeaways:   An Offer in Compromise (OIC) denial doesn’t mean your options are exhausted. You can either appeal the...

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Do College Students Need to File Taxes? 

Do College Students Need to File Taxes? 

Key Takeaways:  Filing depends on income and dependency status: Students must file a tax return if their earned income exceeds...

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What to Know About Schedule H: Household Employment Taxes

What to Know About Schedule H: Household Employment Taxes

Key Takeaways: Schedule H is used to report household employment taxes for workers like nannies, housekeepers, or caregivers. You must...

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Tax Breaks for Homeowners: Mortgage Interest, Property Taxes, and More 

Tax Breaks for Homeowners: Mortgage Interest, Property Taxes, and More 

Key Takeaways:   Homeowners may qualify for valuable tax deductions (like mortgage interest, property taxes, and mortgage points) and tax...

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Are Property Taxes Deductible?  | Optima Tax Relief

Are Property Taxes Deductible?  | Optima Tax Relief

Property taxes are a significant aspect of homeownership and real estate investment. They are levied by local governments and are...

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Can I Claim an Energy Tax Credit? 

Can I Claim an Energy Tax Credit? 

Amid growing concerns over climate change, the promotion of sustainable energy practices has become paramount. Governments worldwide are increasingly turning...

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How to Track and Deduct Business Use of a Personal Vehicle 

How to Track and Deduct Business Use of a Personal Vehicle 

Key Takeaways:  Only business-related mileage is deductible, such as trips to clients or temporary job sites. Daily commuting is not...

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When to File Separately if You’re Married

When to File Separately if You’re Married

Filing taxes as a married couple is a significant financial decision. While the default option for most couples is to...

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