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Is a spouse entitled to Social Security after death?
Social Security is a key source of financial security to widowed spouses in old age. About 7.5 million individuals age 60 and older receive benefits based...
Jul 13, 2026 • 1 READS
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updates
How do I qualify for homestead exemption in Michigan?
Who qualifies for a homestead property tax credit? You may qualify for a property tax credit if all of the following apply: You own or were contracted to ...
Jul 13, 2026 • 1 READS
updates
Should I put zeros on my tax return?
It doesn’t matter whether you enter “0” or “-0-“. The instructions usually say “enter -0-“. However, this is as much for making the instructions more legi...
Jul 12, 2026 • 0 READS
updates
Can you sell your house to your son?
A There is no legal reason why you can’t sell your home to your son if that’s what you want to do. But to avoid inheritance tax complications you will nee...
Jul 12, 2026 • 1 READS
updates
Where do I enter penalties on 1120?
Any penalty calculated flows to line 34 (Line 33 in Drake17 and prior) of the 1120 return. What information returns Penalty? We may assess a penalty if yo...
Jul 12, 2026 • 1 READS
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Is selling a rental property passive income?
Although rental income is passive income, the sale of any real estate (including rental property) results in a capital gain or capital loss not passive in...
Jul 12, 2026 • 1 READS
updates
Are divorce settlements tax free?
Capital gains and losses related to the dissolution of a marriage or de facto relationship are exempt from capital gains tax. The law also provides for ce...
Jul 12, 2026 • 1 READS
updates
What is a true lien?
A lien is a claim or legal right against assets that are typically used as collateral to satisfy a debt. A lien could be established by a creditor or a le...
Jul 12, 2026 • 1 READS
updates
Should I immediately sell ESPP?
If you are risk-averse, you might consider selling your ESPP shares right away so you don’t have overexposure in one stock, particularly that of your own ...
Jul 12, 2026 • 1 READS
updates
What are the tax consequences of a reverse mortgage?
No, reverse mortgage payments aren’t taxable. Reverse mortgage payments are considered loan proceeds and not income. The lender pays you, the borrower, lo...
Jul 12, 2026 • 1 READS
