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Can I deduct COBRA payments as a business expense?

You may not take COBRA premiums as an itemized deduction, or as the self-employment health insurance premium adjustment to income, and then deduct them as...

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Knowledge Base

Latest insights and tutorials from the The Daily Insight team.

How do I prove income for Affidavit of support?

Submit a copy of your individual Federal income tax return, including W-2s for the most recent tax year, or a statement and/or evidence describing why you...

How do I find out when I get my first Social Security check?

1st–10th of the month: Expect your Social Security check to be deposited on the 2nd Wednesday of each month. 11th–20th of the month: Expect your Social Se...

Why do businesses need QuickBooks?

QuickBooks aims to help you run your business better. It allows you to generate financial reports from the data so that you can quickly analyze it and mak...

Do banks reimburse hacked accounts?

Banks are liable If a hacker steals money from a bank, the customer won’t lose money since the bank is liable to refund money for fraudulent debit transac...

What happens to mortgage When HOA forecloses?

If the HOA forecloses a super lien, it might (depending on state law) eliminate the mortgage. For this reason, the mortgage lender will usually pay off th...

How do I report foreign bequest?

If you are a U.S. person (other than an organization described in section 501(c) and exempt from tax under section 501(a)) who received large gifts or beq...

How long can an irrevocable trust remain open?

A trust can remain open for up to 21 years after the death of anyone living at the time the trust is created, but most trusts end when the trustor dies an...

Do you send a 1099 for franchise fees?

In view of the amendments to Section 6041 by the Act, franchisees will likely be required to issue a Form 1099 to their franchisor for the initial franchi...

How long does it take to switch direct deposit to another bank?

It’s up to your employer to make the change once you provide the bank account information to your employer where you want you next payroll deposit to go. ...