Receiving an unexpected tax bill can feel overwhelming, but there are several ways to manage your payments effectively. This guide outlines practical options to help you navigate your tax bill and choose the best solution for your financial situation.

Purchasing a home allows you to start building equity in an investment rather than paying rent. To help offset the burden of high mortgage payments, the IRS offers tax deductions for homeowners, significantly reducing your tax bill.

For tax purposes, a dependent is anyone, other than the taxpayer or their spouse, who qualifies to be claimed by someone else on a tax return. A dependent is a person who relies on another for financial support, such as children or other relatives. Dependents may even include non-relatives, like a domestic partner, if they meet specific criteria.