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Does a grantor trust need to make a QSST election?

A grantor trust is a permitted shareholder of an S corporation during the life of the deemed owner of the trust. After this two- year period, the trust wi...

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Knowledge Base

Latest insights and tutorials from the The Daily Insight team.

What are the taxes that are withdrawn from your paycheck?

Overview of Federal Taxes When your employer calculates your take-home pay, they will withhold money for federal and state income taxes and two federal pr...

How many cars does a small dealership sell per month?

In this environment the average car salesman may sell somewhere between 15 and 25 cars per month. The salesperson that sells less than 12 cars a month on ...

Can Dependants work in Saudi Arabia?

We have explained the rules relating to it in our article “Kafeel System in Saudi Arabia”. If you talk about the family members, they are considered as de...

Who was recently diagnosed with brain cancer?

Tom Parker: The Wanted singer diagnosed with inoperable brain tumour. Tom Parker, one of the members of boy band The Wanted, has been diagnosed with an in...

Do I need to pay FICA tax on OPT?

STEM OPT participants generally are not subject to FICA taxes or Social Security and Medicare contributions until after the first five calendar years that...

Are private schools better for autism?

Private schools are smaller than most public schools and can offer more support in the classroom. Private schools may offer more appropriate pedagogical a...

Where can I find tax-deferred retirement accounts?

Tax-deferred 401(k) and IRA plans The self-employed and virtually anyone else with some amount of taxable compensation can open an IRA account. 3 These a...

What does it mean when someone says gray area?

: an area or situation in which it is difficult to judge what is right and what is wrong There are no gray areas in the rules. Is there a grey area in law...

Do federal employees get per diem?

The per day rates for the lower 48 continental United States, which federal employees are reimbursed for expenses incurred while on official travel. Per d...