Carroll Tax Firm

Most final individual income tax returns for deceased relatives are due on April 15th unless they used a fiscal year. The final tax return will include income earned from January 1st through their date of death. Social security will learn that someone has died when the death certificate is created. The remaining sources of income will need to be told that someone has passed away. Income earned after death by the deceased, if it exceeds $600, will require an estate inco

A trust can't own an individual retirement account (IRA) since a trust is not an individual. If you absolutely wanted to put the assets...

Instead of being able to take a current-year, full deduction for a business or income-producing purchase, some purchases require...