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Can you get a loan with a tax lien?

A tax lien can be a red mark on your business loan application. Whether you have a tax lien against your personal assets or your business, your business f...

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Knowledge Base

Latest insights and tutorials from the The Daily Insight team.

Is house rent taxable?

For most employees, House Rent Allowance (HRA) is a part of their salary structure. Although it is a part of your salary, HRA, unlike basic salary, is not...

How long does it take to get a replacement EAD card?

60-90 days Processing time for a replacement EAD is 60-90 days. It is not possible to expedite the application. If you have your original approval notice ...

What to do if you get an unknown deposit?

When Unexpected Money Shows Up You should preemptively contact your bank and let them know you’re not sure where the deposit came from. If your parents or...

What is a Friends of organization?

A “Friends of” organization generally exists to provide federal tax deductibility for charitable contributions to support a foreign charity by breaking a ...

Are management fees deductible on 1040?

Investment fees, custodial fees, trust administration fees, and other expenses you paid for managing your invest- ments that produce taxable income are mi...

How are S Corp distributions treated?

Any distributions will be a tax-free reduction of the shareholder’s basis. Any distribution in excess of the shareholder’s stock basis is treated as capit...

Can you sell shares to your spouse?

You’re absolutely spot-on in thinking that a transfer of the shares to your wife would do the job. Gifts between spouses and civil partners are normally f...

Can I send 2 years tax returns together?

Yes, you can. You will need to file the income from each year, separately. A tax return for each year of income that you need to report. Can I do my 2014 ...

What is invoice in dropshipping?

Your eCommerce platform creates the purchase order for the supplier to drop ship the product. They ship the product, when they can. They give you the ship...