The Daily Insight

Featured Article

Why would a corporation offer a stock option to employees?

Stock options are a benefit often associated with startup companies, which may issue them in order to reward early employees when and if the company goes ...

Read Full Article Browse news

Knowledge Base

Latest insights and tutorials from the The Daily Insight team.

Is a retirement annuity paid monthly?

Your traditional pension plan is designed to provide you with a steady stream of income once you retire. That’s why your pension benefits are normally pai...

Do retirement withdrawals count as income?

Withdrawals from 401(k)s are considered income and are generally subject to income tax because contributions and growth were tax-deferred, rather than tax...

How often can you change entity classification?

In most circumstances, the LLC’s owners have the right to choose the company’s tax classification when the company is set up and can change that classific...

Is a grantor trust a good idea?

Grantor trusts can provide wealth preservation by giving the assets within the trust certain asset protection, keeping these assets out of the grantor’s e...

Do you have to report Roth IRA on 1040?

Generally speaking, you will not need to report your Roth IRA contributions on IRS Form 1040. That being said, exceptions may arise if you are claiming th...

Can funds be transferred from one bank to another?

You can move funds from one bank account to another with online bank transfers. If your funds are spread across accounts at different institutions, it hel...

Can LLC have retained earnings?

An LLC refers to a limited liability company. Any profits that are not distributed at the end of the LLC’s tax year are considered retained earnings. The ...

What happens if you miss the business tax deadline?

If you don’t file an extension or make a payment on time, you’ll have to pay penalties and interest on what you might owe the IRS. To learn more about fil...

What is an all inclusive rate on W2?

My prospective employer (a consultancy service) gave me 3 options: signing on as 1099, W2 w/ benefits or W2 all inclusive. The “all inclusive” option mean...