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Does ACA cover health insurance?

A set of 10 categories of services health insurance plans must cover under the Affordable Care Act. These include doctors’ services, inpatient and outpati...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

Can I pay a babysitter cash?

Paying nannies cash in hand (or under the table) is not only illegal it is unfair to the nanny in cases of trying to apply for credit to purchase a car or...

How much does being married save on taxes?

Second, the couple would benefit from an increased standard deduction. Couples filing jointly receive a $24,800 deduction in 2020, while heads of househol...

Does mortgage payoff affect capital gains?

The Internal Revenue Service doesn’t let you deduct mortgages or liens when figuring the tax on capital gains from property sales, even though you must pa...

Does NC have a W 4?

Keep the top portion for your records. an NC-4 to your employer, your employer is required to withhold based on the filing status, “Single” with zero allo...

Is it possible to live a happy married life?

However, if you want to live a happy married life, then you have to work on keeping the romance alive and on continuing to grow—both with your partner and...

Is gift received from Father taxable?

Gifts received from relatives are exempt from tax. by virtue of Section 56 of the Income Tax Act. Gifts received under will/ by way of inheritance and gif...

Can an S Corp have 2 employees?

In principle, an S corporation can have no employees. However, in practice payments to its officers may be classified as wages, with tax implications. Can...

Can a spouse be an employee of a S corporation?

However, what can make sense is when you can offer a spouse other tax free fringe benefits by virtue of being an S corporation employee including things l...

What are the benefits of a self directed IRA?

Advantages of Self-Directed IRAs The key advantages of a self-directed IRA are: Greater flexibility in the investments you’re able to hold in the account....