How to Track Business Expenses for Taxes
Jul 3, 2025Key Takeaways: Tracking business expenses helps reduce taxable income and ensures IRS compliance. Deductible expenses must be “ordinary and necessary”...
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Understanding IRS NFT Reporting Requirements and Compliance
Jul 1, 2025Key Takeaways: The IRS classifies NFTs as digital assets and requires brokers to report NFT transactions under new tax rules...
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Manage Money
Can You Deduct Therapy? | Optima Tax Relief
Jun 29, 2025Key Takeaways: Therapy is tax-deductible if it is medically necessary and provided by a licensed professional. You must itemize deductions...
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Manage Money
How Inherited Property is Taxed
Jun 28, 2025Key Takeaways: You don’t pay income tax when you inherit property, but you may owe capital gains tax if you...
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Top 5 Tips to Avoid an IRS Audit in 2025
Jun 27, 2025Key Takeaways: AI is reshaping IRS audits by detecting income mismatches, suspicious deductions, and multi-year patterns with greater precision. ...
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Manage Money
Can the IRS Take My 401(k)?
Jun 23, 2025Key Takeaways: The IRS can seize your 401(k) if you’re eligible to withdraw funds. Retirement accounts are not immune to...
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Manage Money
Social Security Survivor Benefits and Taxes
Jun 20, 2025Key Takeaways: Social Security survivor benefits provide income to widows and eligible family members based on the deceased spouse’s earnings...
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How AI Tools Are Changing Tax Prep and What to Watch Out For
Jun 19, 2025Key Takeaways: AI tools are changing tax prep by automating data entry, categorizing expenses, and helping users identify deductions faster. ...
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Manage Money
IRS Direct File: Recent News
Jun 18, 2025Tax season can be a daunting time for many Americans. The IRS hopes to ease taxpayer stress with its new...
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Manage Money
Why Did I Get a Refund from the IRS but Owe My State?
Jun 17, 2025Key Takeaways: Federal and state taxes are calculated separately, which can result in a refund from the IRS but a...
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