Life insurance policies have historically been favored not only as a means of financial protection but also as an attractive investment option, primarily due to […]
Tax implication
Understanding Tax Implications on Conversion of Unaccounted Income
Section 56(2)(x) of the Income Tax Act deals with taxation of certain gifts received by an individual or other person. If any person receives specified […]
Understanding the Tax Implications of NIL Income for College Athletes
In 2021, the NCAA made a groundbreaking change by lifting the long-standing restriction that prevented college athletes from profiting from their name, image, and likeness. […]
Understanding the Tax Implications of COVID-19 Unemployment Benefits
When the COVID-19 pandemic swept across the United States in early 2020, the resulting economic shutdown led to massive job losses and financial instability. Millions […]