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Are 401k contributions protected?

Your money can continue to grow tax-deferred. Under federal law, assets in a 401(k) are typically protected from claims by creditors. You may have access ...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

How do I fill out a W-8BEN?

How Do I Fill Out Form W-8BEN? Line 1: Enter your name. Line 2: Enter your citizenship. Line 3: Enter your mailing address. Line 5: Enter your U.S. taxpay...

How much can a married couple contribute to a 529 plan in 2020?

Annual 529 plan contribution limits Excess contributions above $15,000 must be reported on IRS Form 709 and will count against the taxpayer’s lifetime est...

What happens when you sell a real estate investment property?

Unfortunately when you sell an investment property, the IRS gets those savings back in the form of depreciation recapture. If you make a profit on the pro...

How do you find out if you have a 401k from an old job?

The first and best method of locating a 401k is to contact your old employers. Ask them to check their plan records to see if you ever participated in the...

Can a CPA file an LLC?

If there are issues that apply to your business, an attorney can handle them for you; a CPA cannot. Filing LLC status alone won’t guarantee you legal prot...

How can I avoid paying taxes on a new car?

States Without Sales Tax If you buy and register your car in a state without sales tax for car purchases, then you will not have to pay this. Keep in mind...

What is a full-time salaried position?

Employees who are full-time exempt are employees who are paid an annual salary and are exempt from overtime regulations. These employees often have positi...

What triggers property tax reassessment in California remodel?

If you plan to make any improvements that add new fixtures or increase the square footage of your property, the change is “like new” or “substantially equ...

Can my husband claim my business?

As we discussed earlier, all or part of your business will probably be considered marital property. If your spouse was employed by you or your company, he...