The significant difference between S corps and partnership is the protection limited liability that S corps business owners enjoy. Partnerships, however, do not have this protection,...
If you need to file for an individual federal income tax return, you will now use the IRS Form 1040 or 1040-SR for Seniors. The other alternatives above: Forms 1040A and 1040EZ ended...
From the title, you can tell that worthless securities are just what they are: worthless, insignificant, and meaningless. These are securities with ZERO market value and may include...
The COVID 19 relief package passed in March 2020 includes provisions valued at $2.3 million to cushion the pandemic's effect. It is called CARES Act and comes with a package for...
The constructive receipt is a tax concept based on which it is assumed that a taxpayer has received income, even though the income has not yet been physically received, which must...
Investing in rental real estate can provide investors with a constant income stream that covers the mortgage and, at the same time, provides additional income each month; when these...
Unknown to many people, the proceeds from selling a house might be taxable. However, this article sheds light on the mode of operation and simple ways to avoid ending up with a huge...
We have seen that the stock market has hit several new highs in recent months. This is in addition to the fantastic bull market that ran for more than ten years before the rapid coronavirus...
Regardless of your level of insight into taxes as an individual or a business, you must understand the concepts of FATCA and FBAR and their differences because to understand and utilize...