Most Recent Manage Money News

The Most (and Least) Tax-Friendly States for Retirees 

The Most (and Least) Tax-Friendly States for Retirees 

Key Takeaways:  The most tax-friendly states for retirees aren’t just those with no income tax. They are the ones where Social...

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How to Read Your IRS Transcript and Understand Account Codes 

How to Read Your IRS Transcript and Understand Account Codes 

Key Takeaways:   IRS transcripts are official tax records that show return data, payments, credits, and IRS transcript codes documenting...

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Truck Drivers: Over-the-Road Tax Deductions 

Truck Drivers: Over-the-Road Tax Deductions 

Key Takeaways:  Owner-operators can deduct a wide range of business expenses, including fuel, maintenance, insurance, depreciation, and per diem meals....

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What You Need to Know About Hiring Your Kids for Work

What You Need to Know About Hiring Your Kids for Work

As a parent, you may be looking for opportunities to teach your children valuable life lessons, including those related to...

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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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