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Does inflation increase the real value of money?

The impact inflation has on the time value of money is that it decreases the value of a dollar over time. Inflation increases the price of goods and servi...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

Do you have to report offshore accounts?

Since foreign accounts are taxable, the IRS and U.S. Treasury have a very rigid process for declaring overseas assets. Any American citizen with foreign b...

Can you deduct taxes on Schedule C?

Federal Income Taxes are NOT Deductible The IRS is very clear on this: You cannot deduct federal income taxes These are the taxes you pay on your business...

How can you reduce the risk of investing?

6 ways to reduce investment risk on your portfolio Handle asset allocation properly. Diversify your investment. Monitor your investments regularly. Identi...

Do you subtract income tax?

Taxable income is always lower than gross income since the U.S. allows taxpayers to deduct certain income from their gross income to determine taxable inc...

What happens when you credit notes payable?

When repaying a loan, the company records notes payable as a debit entry, and credits the cash account, which is recorded as a liability on the balance sh...

Is putting 500 a month in savings good?

Like always in saving, it’s not the absolute figures that matter, but the relative ones. The golden rule of saving money is that at least 10% of your inco...

How many years can you file back taxes in Illinois?

If your change decreases the tax due to Illinois and you want a refund, you must file an amended return (claim for overpayment) within three years after t...

What are the types of private equity?

There are three key types of private equity strategies: venture capital, growth equity, and buyouts. These strategies don’t compete against one another an...

Can you have secondary insurance with a high deductible health plan?

High-Deductible Supplemental Health Insurance Plans It’s possible to use secondary insurance to pay your deductibles. Plans offering cash benefits can hel...