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What type of Corp is an LLC?

A limited liability company (LLC) is the US-specific form of a private limited company. It is a business structure that can combine the pass-through taxat...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

What is a cancellation clause in a contract?

A cancellation clause is the section of a contract that describes circumstances in which each party may cancel the agreement as well as other details rega...

Should I get paid for working extra hours?

Employers do not have to pay workers for overtime. However, your average pay for the total hours you work must not fall below the National Minimum Wage. Y...

Are irrevocable trusts State specific?

If a trust is irrevocable, whether it can be moved depends, in part, on the language of the trust document. Many trusts specify that the laws of a particu...

Do you pay US taxes if you move to another country?

Yes, if you are a U.S. citizen or a resident alien living outside the United States, your worldwide income is subject to U.S. income tax, regardless of wh...

Do SBA loans show up on credit?

Reporting SBA loans to credit reporting agencies is included in SBA guidelines. This is reported by the lender to commercial credit reporting agencies, no...

What is the best major for undecided?

8 Best Majors for Undecided Students Communication. Whether you like to read, write or talk, communication can grow your skill set and broaden your horizo...

Can I give a gift to a non US citizen?

Donors who are nonresidents not citizens of the United States are subject to gift (and generation-skipping transfer (GST)) taxes for gifts made of real an...

What does it mean when an annuity is non-qualified?

A non-qualified annuity is purchased with after-tax dollars that were not from a tax-favored retirement plan. Non-qualified annuity premiums are not deduc...

Can a mortgage company call your work?

Mortgage lenders verify employment by contacting employers directly and requesting income information and related documentation. Most lenders only require...