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Is S Corp capitalized?

Because the Internal Revenue Code does not contain any special rules for capitalization of S corporations, a shareholder’s contribution of stock in exchan...

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Knowledge Base

Latest insights and tutorials from the The Daily Insight team.

Is 2 Shareholder life insurance deductible?

Two-percent owners can take a corresponding deduction for the cost of their health insurance premiums on their personal tax return. This benefit is treate...

What does it mean when a question is closed?

A question to which an answer must be selected from a limited set. Questionnaire items with fixed response categories are closed questions, and questions ...

What is a good method for establishing credit?

How to Build Credit Get a secured credit card. Get a credit-builder product or a secured loan. Use a co-signer. Become an authorized user. Get credit for ...

Can a student be considered an independent contractor?

The IRS considers individuals performing services to be employees, absent a reasonable basis for classification as an independent contractor. By default, ...

How do you thank someone who appreciated?

“Thank you, it makes my day to hear that.” “I really put a lot of thought into this, thank you for noticing.” “Thank you, I really appreciate you taking t...

How are Social Security disability benefits paid out?

Your SSDI monthly benefit will be based on your average covered earnings over a period of time, which is referred to as your average indexed monthly earni...

What is provide effective customer service?

The key to good customer service is building good relationships with your customers. Thanking the customer and promoting a positive, helpful and friendly ...

What kind of insurance do you get when you retire?

If you retire before you’re 65 and lose your job-based health plan when you do, you can use the Health Insurance Marketplace® to buy a plan. Losing health...

Is an LLC a US corporation?

A Limited Liability Company (LLC) is an entity created by state statute. A domestic LLC with at least two members is classified as a partnership for feder...