Most Recent Manage Money News

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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Does the IRS Really Show Up at Your Door? What Field Visits Are (and Aren’t) 

Does the IRS Really Show Up at Your Door? What Field Visits Are (and Aren’t) 

Key Takeaways:  In most cases, the IRS no longer shows up at your door unannounced. Since 2023, field visits are...

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Tax Guide for Independent Contractors

Tax Guide for Independent Contractors

Working as an independent contractor offers flexibility and autonomy, but it also means taking full responsibility for your taxes. Unlike...

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What is Schedule R, Tax Credit for Elderly or Disabled?

What is Schedule R, Tax Credit for Elderly or Disabled?

Key Takeaways of Schedule R Purpose: Schedule R is used to claim the Credit for the Elderly or the Disabled,...

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Tax Checklist for Closing a Business 

Tax Checklist for Closing a Business 

Key Takeaways:  You must file a final federal income tax return and mark it as “final,” regardless of your business...

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What You Need to Know About State Tax Audits

What You Need to Know About State Tax Audits

Key Takeaways:  State tax audits are conducted by state revenue departments to verify reported income, deductions, and tax payments and...

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Taxes on Social Security Benefits

Taxes on Social Security Benefits

Social Security benefits are a crucial financial lifeline for many retirees. Many taxpayers are often shocked to learn that their...

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