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Who pays tax on income from special needs trust?

The tax rules for special disability trusts are designed so that the net income of the trust is taxed at the principal beneficiary’s marginal tax rate, ra...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

What is the importance of health insurance?

Health insurance provides financial protection in case you have a serious accident or illness. For example, a broken leg can cost up to $7,500. Health cov...

Is a 25% 401K match good?

The Bottom Line The most common employer match is 50 cents on the dollar, on up to 6% of your salary. Most advisors recommend contributing enough to get t...

How is the stock basis of a S corporation determined?

Since shareholder stock basis in an S corporation changes every year, it must be computed every year. In computing stock basis, the shareholder starts wit...

What does an accountant need for tax return?

You should bring your accountant any documents pertaining to a recent home purchase, proof of paid mortgage or home equity loan interest, or proof of paid...

Is the new CPA Exam harder or easier?

Candidates typically have more problems with the task-based simulation portion of the exam and now that portion is worth more and covers more topics. It w...

Can you defer paying taxes on capital gains?

Deferring Those Capital Gains Taxes 1, 2018, eliminated personal property assets (such as stamp collections, art, and yes, your stocks) from like-kind exc...

Can LLCS sell ownership rights?

In strictly technical terms, no LLC can sell shares. Ownership in an LLC, or limited liability company, is based on a percentage of the company not by the...

What is Section 41 tax credit?

20 percent of the amounts paid or incurred by the taxpayer in carrying on any trade or business of the taxpayer during the taxable year (including as cont...

Do self published books get picked up by publishers?

It is possible to bring a self-published book into the traditional publishing industry as long as one important detail is taken care of: you’ve retained t...