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How do I report a Medicare waiver payment?

If the Medicaid Waiver Payments are include on a W-2, the amount reported in Box 1 of the W-2 is reported on Line 1 of the 1040 as part of the taxpayer’s ...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

How is accounting related to taxation?

Tax accounting refers to the rules used to generate tax assets and liabilities in the accounting records of a business or individual. Tax accounting may r...

Is PwC still PricewaterhouseCoopers?

PricewaterhouseCoopers is a multinational professional services network of firms, operating as partnerships under the PwC brand. The firm in its present f...

Can an owner take a loan from his company?

Borrowing money from your own corporation allows you to collect more than your normal salary or dividends at a tax-free rate. However, you can’t just take...

Are leasehold improvements fixed assets?

Leasehold improvements are assets, and are a part of property, plant, and equipment in the non-current assets section of the balance sheet. Therefore, the...

Can I take money out of my Vanguard retirement account?

Your plan options after termination Rollover to a Vanguard IRA – Move your money to an individual retirement account with Vanguard. Withdraw cash – Take a...

Is lawn care a business expense?

Yes, you may be able to take a deduction for lawn care. According to the Tax Court, sole proprietors who regularly meet clients in a home office can deduc...

What happens to my Roth IRA if I make more money?

Whatever happens to your income or your career, your Roth IRA is your account. The money you deposited there is still your money. No matter how much you’r...

Can a non CPA own a CPA firm in New Jersey?

New Jersey, Pennsylvania, Connecticut, Massachusetts—every state in the Union except for New York and Hawaii—allow non-CPAs to hold a minority ownership s...

How do you calculate monthly interest on a loan?

Divide your interest rate by the number of payments you’ll make that year. If you have a 6 percent interest rate and you make monthly payments, you would ...