Molly Stinn, CPA details how real estate losses could benefit you come tax time:



Losses from real estate can generally only be used to offset income from “passive activities.” Any remaining losses must be carried forward — unless you’re a real estate professional.

There’s another catch: Even real estate professionals must pass a “material participation” test in order to use passive losses to offset non-pass Read More >>

Hank Gingerich, CPA advises on the various options of inherited IRAs:



When inheriting an IRA, a surviving spouse has several options. He or she can remain the beneficiary of the account. As an alternative, if the spouse is the sole beneficiary, he or she can instead treat the inherited IRA as his or her own.

If there are multiple beneficiaries, the account can be divided up so the spouse’s share is in its own account. When a spouse makes this decision, the IRA Read More >>