Most Recent Manage Money News

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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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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