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What even is grad school?

“Graduate school” is a catchall term for academic programs that provide training in a specific academic discipline or field beyond the undergraduate level...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

How do you ask someone for a loan?

We’ve got your back! Look at all your borrowing options. Consider the financial and social risks. Ask the right person. Discuss all the loan details. Crea...

When does the new tax law take effect?

Treatment of business income and losses of individuals. The new law provides a temporary new deduction for certain business income of individuals (as well...

How much will my credit score drop if I sell my house?

Selling your home in a short sale will cause your credit to drop significantly — up to 160 points, depending on where your score was at the time it hits y...

Who pays NYC Unincorporated Business Tax?

Any person who has net self employment earnings from NYC greater than $150,000 must pay the UBT tax and will have no credit to offset their UBT liability....

How do you determine the cost basis of an inherited property?

If you sell the property for more than it was worth, you will need to pay capital gains taxes on the difference. The best method to determine cost basis i...

On which type of loan is interest never tax deductible?

personal loans Interest paid on personal loans is not tax deductible. If you borrow to buy a car for personal use or to cover other personal expenses, the...

What are sales taxes applied to?

California state sales and use tax is administered by the California Department of Tax and Fee Administration (CDTFA) and applied as a base percentage rat...

Is short term capital gain taxable?

Short term capital gains are taxable at 15%. Special rate of tax of 15% is applicable to short term capital gains, irrespective of your tax slab. Also, if...

Can you take depreciation on rental property?

To take a deduction for depreciation on a rental property, the property must meet specific criteria. According to the IRS: The property’s useful life is l...