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Can you go to jail for lying to a federal agent?

If you lie to a federal agent and are convicted for a violation of 18 U.S. C. § 1001, you can be fined and sentenced to federal prison for up to five year...

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Knowledge Base

Latest insights and tutorials from the The Daily Insight team.

Do I need 2 years of self employment to buy a house?

The majority of lenders will require self-employed borrowers to have at least 3 years’ accounts. There are fewer lenders that consider self-employed mortg...

Can a corporation be 100% owned?

A parent company will own 51% to 99% of a regular subsidiary’s voting stock. If a parent company owns 100% of the stock, the subsidiary is said to be a wh...

Can I still file a 2016 return?

The short answer is yes, you can still file a 2016 tax return. If you’re owed a refund, you can still claim it, and if you owe the IRS money, they’ll stil...

Can you deduct losses on rental property?

The rental real estate loss allowance allows a deduction of up to $25,000 per year in losses from rental properties. The 2017 tax overhaul left this deduc...

Can a single member LLC hire independent contractors?

An LLC can hire two types of workers: employees and independent contractors. Employees are the company’s permanent individual workers. The LLC must deduct...

What is a mother-in-law Cottage?

Mother-in-law apartments have varying floor plans but generally have a bedroom, bathroom, kitchen, and living room. Most have a separate entrance, and som...

Who is required to file taxes in the US?

The very basic and general answer is this: as a filing single or married filing separate person, if your 2020 income did not not equal or exceed the stand...

What are some types of additional disclosure you might see in the notes?

Types of disclosures include, accounting changes, accounting errors, asset retirement, insurance contract modifications, and noteworthy events. What are t...

Can I run an eBay business from home?

Now, eBay offers a flexible way to earn money on your own schedule, from home, with zero financial investment, and profits are only limited by the amount ...