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What is the main import of Colombia?

Colombia main imports are: machinery and transport equipment (39 percent of total imports); manufactured products (22 percent); chemicals and related prod...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

What is considered payroll for independent contractor?

Independent contractors are not classified as employees by the Internal Revenue Service (IRS), so instead of being paid through your payroll system, they’...

Can my refund check be garnished?

Government agencies frequently garnish federal income tax refunds since they are the most common federal payments. The TOP is the only way your refund can...

Is royalty income considered other income?

Royalties from copyrights, patents, and oil, gas and mineral properties are taxable as ordinary income. You generally report royalties in Part I of Schedu...

What do architects do on a typical day?

Self-employed architects may perform the gamut of architectural duties, while architects at large firms may specialize in specific project phases. At the ...

Are hotels tax free after 30 days?

Thirty- one days after the guest notifies the hotel that the guest intends to stay 30 days or longer, the hotel should refund the collected tax from the d...

What is the withholding tax rate in Canada?

25% withholding tax rules The general Canadian non-resident withholding tax rate is 25% which applies to certain Canadian-source income paid or credited t...

What does CAF mean on a W-2?

Cafeteria, or Section 125 plans include employer-sponsored benefits that are exempt from federal and typically, state taxes. Your employees pay for these ...

Is federal income a mandatory deduction?

Mandatory deductions: Federal and state income tax, FICA taxes, and wage garnishments. Post-tax deductions: Garnishments, Roth IRA retirement plans and ch...

What is the average income tax in Missouri?

Missouri has a progressive income tax rate that ranges from 0% to 5.40%. What is the state tax rate in Missouri? 4.225% The Missouri (MO) state sales tax ...