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Are semi truck lease payments tax deductible?

Truck Lease Under a lease-purchase agreement, 100% of your truck payments are deductible. Your security deposit is not deductible. Are lease purchase paym...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

Why is it called equilibrium price?

A market is in equilibrium if at the market price the quantity demanded is equal to the quantity supplied. The price at which the quantity demanded is equ...

What is the maximum income for ObamaCare subsidy 2020?

According to the Federal Register, the 2020 poverty level for an individual is $12,760. If you are a single person making more than 400% of that amount ($...

Are you required to send 1099?

1099-MISC. The “general rule” is that business owners must issue a Form 1099-NEC to each person to whom they have paid at least $600 in rents, services (i...

Can a company change from accrual to cash basis?

If you want to change from using the accrual accounting method to cash basis accounting, you will ordinarily need to request permission to do so by filing...

Can health insurance be paid in EMI?

With the availability of paying health insurance premiums on EMIs, you can pay a fixed amount every month towards your mediclaim policy. You can enjoy you...

How do you distribute money from an S Corp?

Here’s a simple strategy that you can try, and it’s called the 60/40 rule: Pay 60% of your business income to yourself in the form of employee salary. Pay...

Can you be on medical leave for a year?

California’s Family Rights Act (CFRA) and the Family Medical Leave Act (FMLA) provides certain employees with up to 12 weeks of unpaid, protected medical ...

How much should you make to buy a luxury car?

For entry level luxury cars your average income must be 50 lakh per annum. If you have got this much package then you must be giving more than 15 lakh tax...

What is Florida community Resource spousal allowance?

The Community Spouse Resource Allowance (CSRA) is the amount of nonexempt assets that the community (or well) spouse is entitled to keep without affecting...