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Is a resident manager an employee?

Resident Managers are employees, not independent contractors, of the owner or management company. Under California law, the only responsibility of the per...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

Is employer-paid long term disability insurance taxable?

Is the long-term disability I am receiving considered taxable? If both you and your employer have paid the premiums for the plan, only the amount you rece...

Can an unmarried couple living together file jointly on taxes?

If your state recognizes common-law marriages and you meet the requirements to be considered in a common-law marriage, you can file taxes as married filin...

How much are lottery winnings taxed in Virginia?

The Lottery Department shall withhold Virginia income tax at the rate of 4.0% on the proceeds from any lottery prize in excess of $5,000. The tax shall be...

Should my exemptions be 0 or 1?

If you put “0” then more will be withheld from your pay for taxes than if you put “1”–so that is correct. The more “allowances” you claim on your W-4 the ...

What is called the direct violation of tax law?

18. The direct violation of Tax law is called: a) Tax evasion. What is tax evasion legal? Tax evasion is using illegal means to avoid paying taxes. Typica...

Do ROTH IRAs lower your taxable income?

Yes, you can lower your taxable income and your tax bill by contributing to an individual retirement account (IRA). How will a Roth IRA affect my taxes? R...

What are the primary industries in Philippines?

The major industries of the Philippines include manufacturing and agribusiness. Within manufacturing, mining and mineral processing, pharmaceuticals, ship...

How is fixed income taxed?

How that income is taxed depends on the underlying investments that are generating that income. The income from taxable bond funds is generally taxed at t...

Is rebate available for Ltcg?

Rebate under 87A There is also a proposal to allow the deduction under Section 87A of the Income Tax Act on income tax computed on all income, excluding t...