updates

Can passive income offset active losses?

Nonpassive losses include losses incurred in the active management of a business. Nonpassive income and losses are usually declarable and deductible in th...

Jul 19, 2026 • 1 READS

updates

How many years of tax records should I maintain?

three years In almost all cases, you can shred or throw away any documents such as W-2s, 1099s or other forms or receipts three years after you file your ...

Jul 19, 2026 • 1 READS

updates

When did my mother die of lung cancer?

My mother passed away on September 18 th, 2011. She had suffered with lung cancer for the year and a half prior to her death. Her suffering was long and d...

Jul 19, 2026 • 1 READS

updates

Can you claim EIC in year of death?

Even though death occurred, a taxpayer is considered “alive” all year for Earned Income Credit. If the taxpayer can claim any qualifying dependents for EI...

Jul 19, 2026 • 0 READS

updates

How much can a 25 year old contribute to a Roth IRA?

Consider the following example: A 25-year-old investor makes a one-time contribution of $5,000 to a Roth IRA. The contribution grows at 10% annually with ...

Jul 19, 2026 • 1 READS

updates

How do I manage my ecommerce business?

Here are some tips for managing a successful ecommerce business: Test everything. Testing is the only way to find out whether any changes you make are wor...

Jul 19, 2026 • 1 READS

updates

What should be included in a co parenting plan?

Some of the key issues that have to be addressed when putting together a parenting plan include the ages of the children and their developmental needs, th...

Jul 19, 2026 • 1 READS

updates

How do I transfer stock from one broker to another?

One can do it by registering on the CDSL Easiest platform for CDSL accounts. In case the existing DP is registered with NSDL and the new DP is registered ...

Jul 19, 2026 • 1 READS

updates

Can both husband and wife claim 80D?

As per section 80D, a taxpayer can avail tax deduction on premium paid towards medical insurance for self, spouse, dependent parents and dependent childre...

Jul 18, 2026 • 0 READS

updates

When does Social Security have to be included in gross income?

There are certain situations when seniors must include their Social Security benefits in gross income. If you are married but file a separate tax return a...

Jul 18, 2026 • 1 READS