Taxes

IRS usually allows 5 years of business activity before they question if your activity is a business or a hobby. You must show a profit during at least three of the last five years, including the current year. There are exceptions to the basic rules. If your business activity does …

Investments are a part of a working persons life. People invest to save tax and to create a fund for retirement or lean times. When filling tax returns one needs to understand many subtle differences in different kinds of investments. A capital gain is the difference between what you paid …