Most Recent Manage Money News

How Freelancers Can Avoid Surprising Tax Bills

How Freelancers Can Avoid Surprising Tax Bills

The allure of freelancing lies in its flexibility and independence, allowing individuals to pursue their passions while managing their own...

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Is Overtime Pay Taxed Under the One Big Beautiful Bill?  

Is Overtime Pay Taxed Under the One Big Beautiful Bill?  

Key Takeaways:  Under the One Big Beautiful Bill, eligible employees can deduct up to $12,500 in overtime pay from their...

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IRS Interest Rates Hold Steady for Q3 2025

IRS Interest Rates Hold Steady for Q3 2025

The IRS has announced its interest rates for the third quarter of 2025, with no changes from the previous quarter....

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How the IRS Calculates Interest on Tax Debt 

How the IRS Calculates Interest on Tax Debt 

Key Takeaways:  The IRS begins charging interest the day after your tax return is due, even if you file for...

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Can You Get a Car Loan With IRS Debt or a Tax Lien? 

Can You Get a Car Loan With IRS Debt or a Tax Lien? 

Key Takeaways:  You can get a car loan with IRS debt or a tax lien but expect more scrutiny and...

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Why Did I Owe Taxes This Year? Common Reasons for a Surprise Tax Bill 

Why Did I Owe Taxes This Year? Common Reasons for a Surprise Tax Bill 

Key Takeaways:   Unexpected tax bills often result from not updating your W-4 form after major life changes or income...

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How to Track Business Expenses for Taxes

How to Track Business Expenses for Taxes

Key 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 

Understanding IRS NFT Reporting Requirements and Compliance 

Key Takeaways:  The IRS classifies NFTs as digital assets and requires brokers to report NFT transactions under new tax rules...

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Can You Deduct Therapy? | Optima Tax Relief

Can You Deduct Therapy? | Optima Tax Relief

Key Takeaways:  Therapy is tax-deductible if it is medically necessary and provided by a licensed professional.  You must itemize deductions...

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How Inherited Property is Taxed

How Inherited Property is Taxed

Key Takeaways:  You don’t pay income tax when you inherit property, but you may owe capital gains tax if you...

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