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Is it bad to apply for a credit card and not use it?

The short answer is that nothing is likely to happen if you don’t use your credit card for a few months. Not using your card could actually help your cred...

Jul 25, 2026 • 1 READS

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How does a small business help with taxes?

Many small business owners use a sole proprietorship which allows them to report all of their business income and expenses on a Schedule C attachment to t...

Jul 25, 2026 • 1 READS

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How is an S corporation formed?

A corporation becomes an S corporation by filing an S corporation election with the IRS. The election is made on IRS Form 2553, Election by a Small Busine...

Jul 25, 2026 • 1 READS

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What to do if you are a first time tax filer?

“And be sure to proofread it: A mistake in just one digit can lead to disastrous results.” TurboTax is developed with first-time filers in mind. We guide ...

Jul 25, 2026 • 0 READS

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How does capital gains work on investment property?

Capital gain is calculated by the difference between the final sale price and the property value at the time it was rented. Hire a licensed valuer before ...

Jul 25, 2026 • 1 READS

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When did my daughter leave to go to college?

My daughter left for college last August. This is the letter I gave her during our last family dinner at home. We laughed…we cried…and surprisingly, we le...

Jul 25, 2026 • 1 READS

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Where did my Turbo Tax File go missing?

I found my file in the recycle bin. After opening 2018 turbo tax with their mandatory update, my file was missing. I searched everywhere on my computer ex...

Jul 25, 2026 • 1 READS

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Which shares of the company are issued at free of cost?

Shares issued free of cost to the shareholders are known as bonus shares. Are the shares issued by the company to its existing shareholders free of cost? ...

Jul 25, 2026 • 1 READS

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When can you take suspended losses?

Deducting Suspended Losses When You Sell Property The tax rules provide that you may deduct your suspended passive losses from the profit you earn when yo...

Jul 25, 2026 • 1 READS

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Why is my business not making profit?

If you’re not pricing with profitability in mind, it doesn’t matter how many sales you make—you’ll never make a profit. Your product isn’t viable. It’s im...

Jul 25, 2026 • 1 READS