Taxes & Your Savings Archives - Affordable Tax Relief https://affordabletaxrelief.com/blog/taxes-and-your-savings/ Tax Relief & Resolution - Trust the Experts at Affordable Tax Relief Tue, 26 Aug 2025 15:23:38 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.2 https://optimataxrelief.com/wp-content/uploads/2023/10/cropped-favicon_512-1-1-32x32.png Taxes & Your Savings Archives - Affordable Tax Relief https://affordabletaxrelief.com/blog/taxes-and-your-savings/ 32 32 How to Read Your IRS Transcript and Understand Account Codes  https://affordabletaxrelief.com/blog/how-to-read-your-irs-transcript-and-understand-account-codes/ Wed, 20 Aug 2025 08:00:00 +0000 https://affordabletaxrelief.com/?p=25645 If you’ve ever ordered an IRS transcript, you know they can look overwhelming at first glance. Rows of numbers, dates, and abbreviations may leave you wondering what any of it actually means. The good news is that once you understand IRS transcript codes, these records become a powerful tool for tracking your return, refunds, and […]

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]]> What You Need to Know About Hiring Your Kids for Work https://affordabletaxrelief.com/blog/what-you-need-to-know-about-hiring-your-kids-for-work/ Sat, 09 Aug 2025 20:06:08 +0000 https://affordabletaxrelief.com/?p=11581 As a parent, you may be looking for opportunities to teach your children valuable life lessons, including those related to money and work ethic. One unique way to do this is by hiring your kids for work within your family business or household. Not only can this provide your children with valuable skills and experience, […]

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]]> Tax Breaks for Homeowners: Mortgage Interest, Property Taxes, and More  https://affordabletaxrelief.com/blog/tax-breaks-for-homeowners/ Tue, 05 Aug 2025 08:00:00 +0000 https://affordabletaxrelief.com/?p=25488 Owning a home offers significant opportunities to save money at tax time. The tax breaks for homeowners can include both deductions, which reduce your taxable income, and credits, which reduce your tax bill dollar‑for‑dollar. Understanding which ones apply to you could mean hundreds or even thousands of dollars in savings each year. In this guide, […]

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]]> Are Property Taxes Deductible?  https://affordabletaxrelief.com/blog/are-property-taxes-deductible/ Sun, 03 Aug 2025 19:08:57 +0000 https://affordabletaxrelief.com/?p=10694 Property taxes are a significant aspect of homeownership and real estate investment. They are levied by local governments and are a critical source of funding for public services such as schools, roads, and emergency services. Property taxes are paid on property owned, either by an individual or a legal entity. How much property tax you are […]

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]]> Why Did I Owe Taxes This Year? Common Reasons for a Surprise Tax Bill  https://affordabletaxrelief.com/blog/why-did-i-owe-taxes-this-year/ Tue, 01 Jul 2025 08:00:00 +0000 https://affordabletaxrelief.com/?p=25061 Owing taxes can be an unsettling surprise, especially if you expected a refund or thought your employer was withholding enough. If you found yourself asking, “Why did I owe taxes this year?” you’re not alone. Many Americans face unexpected tax bills for reasons that aren’t always obvious.  Whether you changed jobs, started a side hustle, […]

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]]> Vehicles for Business Use https://affordabletaxrelief.com/blog/vehicles-for-business-use/ Sun, 29 Jun 2025 18:49:30 +0000 https://affordabletaxrelief.com/?p=10585 In the world of business, the use of vehicles is a crucial decision that directly impacts both operational efficiency and financial considerations. Whether it’s delivering products, attending client meetings, or managing on-site projects, vehicles are indispensable assets for businesses aiming for success. This article delves into the essentials of utilizing vehicles for business purposes, exploring […]

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]]> Why Did I Get a Refund from the IRS but Owe My State?  https://affordabletaxrelief.com/blog/why-did-i-get-a-refund-from-the-irs-but-owe-my-state/ Tue, 17 Jun 2025 08:00:00 +0000 https://affordabletaxrelief.com/?p=24861 It’s a situation many taxpayers find themselves in every year: they receive a refund from the IRS after filing their federal tax return, only to discover that they owe money to their state. This outcome can be both confusing and frustrating. After all, if you overpaid your taxes to the federal government, how is it […]

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]]> How to Calculate Your Withholding So You Don’t Owe or Overpay  https://affordabletaxrelief.com/blog/how-to-calculate-your-withholding-so-you-dont-owe-or-overpay/ Wed, 04 Jun 2025 08:00:00 +0000 https://affordabletaxrelief.com/?p=24744 One of the most frustrating experiences during tax season is discovering that you owe the IRS money, or on the flip side, realizing that you’ve been overpaying taxes all year. These scenarios typically happen with improper tax withholding. Fortunately, there’s a way to fix this. Understanding how to calculate your tax withholding so you don’t […]

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]]> 2025 Q2 Estimated Tax Payments Are Due. Are You Prepared?  https://affordabletaxrelief.com/blog/2025-q2-estimated-tax-payments-are-due/ Tue, 03 Jun 2025 08:00:00 +0000 https://affordabletaxrelief.com/?p=24741 Estimated tax payments play a critical role in helping taxpayers meet their annual tax obligations. For many individuals, including the self-employed, retirees, and investors, these quarterly payments are the primary way to stay compliant with tax requirements. With 2025 Q2 payment deadline approaching, now is the time to ensure you’re prepared and avoid potential penalties.   […]

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]]> How to Report Rental Income and Avoid IRS Red Flags  https://affordabletaxrelief.com/blog/how-to-report-rental-income-and-avoid-irs-flags/ Thu, 29 May 2025 08:00:00 +0000 https://affordabletaxrelief.com/?p=24700 Rental income is an important source of revenue for many property owners, but it also carries specific tax reporting responsibilities. If you’re a landlord or a property owner who rents out your property, understanding how to report rental income correctly and avoid IRS red flags is essential to ensure compliance and minimize the risk of […]

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