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Do corporations have pass through taxation?

In the tax code, corporations pay tax at both the entity level and again when they distribute earnings to their shareholders. By contrast, pass-throughs s...

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Knowledge Base

Latest insights and tutorials from the The Daily Insight team.

Can a Roth IRA go down in value?

Yes, you can lose money in a Roth IRA. The most common causes of a loss include: negative market fluctuations, early withdrawal penalties, and an insuffic...

Who can be a managing member of an LLC?

Member-Managed LLC. A member who also acts as a manager is called a managing member. In a typical single-member LLC, it is very common for the single memb...

How is retirement income reported to IRS?

Your pension will be reported on a Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc...

Why does my realtor need my Social Security number?

Usually you sign authorization for the loan officer to obtain a copy of your credit report and provide your Social Security number, to ensure it is your r...

Can I apply for H1B and H4 visa at the same time?

A H4 visa is issued to dependent family members (spouse and children) of H1 visa holders who would like to accompany the H1B visa holder to the U.S. durin...

Where do RSUs go on a tax return?

Since stock you receive through stock grants and RSUs is essentially compensation, you’ll usually see it reported automatically on your W-2. Typically, ta...

Do SEP IRA require RMD?

Yes, you must take RMDs from your SEP IRA. Even though it is an employer plan, it still follows the IRA distribution rules, not the plan rules. The good n...

How many types of WH words are there?

Essentially, there are two types of questions: Yes / No questions and Wh– questions. Wh– questions are so called because with the exception of the questio...

Do you have to pay back Hardest Hit Fund?

Although HHF is a loan, you do not have to make loan payments or pay interest. After 10 years, the loan is completely forgiven. You only have to pay money...