The Daily Horizon

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What is horizontal trend analysis?

Horizontal analysis, or trend analysis, is a method where financial statements are compared to reveal financial performance over a specific period of time...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

How long can a contractor work for a company 2019?

The question of how long a contractor can work for the same company has a surprisingly simple answer. There is no maximum time limit. If a contractor and ...

How are expense accounts ordered?

Accounts are usually listed in order of their appearance in the financial statements, starting with the balance sheet and continuing with the income state...

How long does it take to process personal checks?

A personal check typically clears within two business days. Some banks can clear them faster. Here’s how long it generally takes for a check to clear: Usu...

Can I get a loan with a lien?

Lenders will not risk a loan to you while a “first lien” position is held by another entity. The first lien position means that they have first priority o...

Do you pay capital gains on 401k early withdrawal?

For most 401(k) plans, 401(k) taxes only apply on withdrawals. Most 401(k) plans are tax-deferred, which means no income tax on contributions or on gains,...

Is there a waiting period for home equity loan?

There is no strict waiting period for obtaining a home equity line of credit. If you have enough equity at the time of closing your home purchase, you can...

Should a husband and wife retire at the same time?

No. Each spouse can claim their own retirement benefit based solely on their individual earnings history. You can both collect your full amounts at the sa...

How do you record transactions in the double entry bookkeeping system?

In the double-entry system, transactions are recorded in terms of debits and credits. Since a debit in one account offsets a credit in another, the sum of...

What is the easiest way to file a tax extension?

Individual tax filers, regardless of income, can use Free File to electronically request an automatic tax-filing extension. Filing this form gives you unt...