How is the owner of Max fashion?
Ramanathan Hariharan, CEO, Max, recalls how he and his team looked into the growing influence of value fashion retailers in Western markets, and wanting t...
Knowledge Base
Latest insights and tutorials from the The Daily Horizon team.
What kind of tax do you pay when you sell an item?
When an investor sells an item at a gain, the amount is a taxable capital gain that must be reported on IRS Schedule D. Income tax must be paid on the pro...
Read More →What is prohibited in an IRA?
What is a Prohibited Transaction? A prohibited transaction is any improper use of your IRA by you, your beneficiary, or a disqualified person. Disqualifie...
Read More →Can I claim a new tractor on my taxes?
Depreciation. Small farm owners can deduct the cost of the depreciation of farm equipment such as trucks and tractors, buildings, improvements and necessa...
Read More →How does short term gain get taxed?
Short-term capital gains are taxed as ordinary income according to federal income tax brackets. Short-term capital gains are taxed as ordinary income acco...
Read More →How much do you have to make for an S Corp to be worth it?
Examples of S Corp tax savings The more money you pay yourself as a distribution, the more Social Security and Medicare tax you’ll save when you run an S ...
Read More →Can I satisfy my RMD from one account?
If you have multiple IRAs or 403(b)s, you’re allowed to combine the RMDs from the same type of account and take a single distribution from one of the acco...
Read More →Who started the Wild animal sanctuary?
Pat Craig Founder and Executive Director – Pat Craig – Pat began saving captive wildlife after learning that thousands of “surplus” animals were being kep...
Read More →How do I change from single member to multi member LLC?
The only things that are officially required for a multiple-member LLC to become a single-member LLC are the sale of the membership interest of the leavin...
Read More →What does it mean to reconcile your bank account?
Bank Reconciling Statement Bank Reconciling Statement The accountant adjusts the ending balance of the bank statement to reflect outstanding checks or wit...
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