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Do credit card accounts stay open forever?

First, it’s important to understand that you can keep your credit card indefinitely if you really want to. As long as you’re using the card regularly and ...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

Is there a tax benefit to gifting?

Gifts to individuals are not tax-deductible. Tax-deductible gifts only apply to contributions you make to qualified organizations. Depending on how much m...

What is the correct percentage for FICA?

Employers and employees split the tax. For both of them, the current Social Security and Medicare tax rates are 6.2% and 1.45%, respectively. So each part...

How do I find my CD account?

Here are the things that you should do. Call the bank. If you know the bank that held the CD, but don’t have any of the account information, just give the...

Why credit score goes down after paying off debt?

Credit utilization — the portion of your credit limits that you are currently using — is a significant factor in credit scores. It is one reason your cred...

How do you calculate payback period for proposed investment?

The payback period is the number of months or years it takes to return the initial investment. To calculate a more exact payback period: payback period = ...

What are the entries in the general ledger?

The general ledger tracks five prominent accounting items: assets, liabilities, owner’s capital, revenues, and expenses. Transactions that first appear in...

Does homesteading protect your home?

Basically, a homestead exemption allows a homeowner to protect the value of her principal residence from creditors and property taxes. A homestead exempti...

Can you ask collection agencies to stop calling?

Under the FDCPA, you can tell a debt collector to stop contacting you; but it’s not always a good idea. The federal Fair Debt Collection Practices Act (FD...

How long does debt settlement stay on your credit?

seven years A settled account remains on your credit report for seven years from its original delinquency date. If you settled the debt five years ago, th...