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What happens if I file my taxes late and I owe?

Ordinarily, the failure to file penalty is 5% of the tax owed for each month or part of a month that a tax return is late, up to five months, reduced by t...

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Knowledge Base

Latest insights and tutorials from the The Daily Insight team.

How long does it take to form an LLC in Nevada?

How long does it take to form an LLC in Nevada? Filing the Articles of Organization can take about two business days online or up to two weeks by mail. Wh...

What is Crypto buying and selling?

Cryptocurrency trading involves speculating on price movements via a CFD trading account, or buying and selling the underlying coins via an exchange. Here...

Should I sell stock limit?

A limit order may be appropriate when you think you can buy at a price lower than—or sell at a price higher than—the current quote. Do sell limits affect ...

What types of retirement plans are available to self-employed taxpayers?

Retirement Plan Options for the Self-Employed. There are five main choices for the self-employed or small-business owners: an IRA (traditional or Roth), a...

How do I maximize my Roth 401k?

Advice for maximizing your Roth 401(k) account: Max out your contributions. Once you turn 50, add another $6,500 to that limit annually while you continue...

What do you call a grown up child?

The word remains “children” regardless of their age. You can elaborate on that with “grown-up children” or, more awkwardly, “adult children” but if you’re...

What is IRC 280A?

IRC 280A(g), or the “14 Day Rental Rule”, allows business owners to claim a home rental fee as a business expense. And as long as the number of days on wh...

Can I claim my mother for head of household?

In certain situations, you can claim your parent as a dependent and file as head of household (HOH). A qualifying person, which includes a parent, lived w...

Do you charge sales tax on services in Mississippi?

Sales of property, labor or services sold to, billed directly to, and payment is made directly by the United States Government, the state of Mississippi a...