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Is cash advance a income?

Merchant cash advances are not loans and, therefore, are not reported as income. At the time the advance is made, the money received from the cash advance...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

Is ETSY a peer to peer platform?

Etsy is a P2P ecommerce company (like ebay) that currently limits sales to handmade items. It’s smart to focus on a niche to iron things out…and Etsy coul...

Can bitcoin be shorted?

One of the easiest ways to short bitcoin is through a cryptocurrency margin trading platform. Many exchanges as well as brokerages allow this type of trad...

What is HSA Last month rule?

“Under the Last Month Rule, if an individual is eligible on the first day of the last month of the tax year (December 1 for most taxpayers), he or she is ...

What is the IRS deduction for a single person?

$12,400 The standard deduction is a specific dollar amount that reduces your taxable income. In 2020 the standard deduction is $12,400 for single filers a...

How long after a company is formed do you have to file an S corp election?

A corporation or LLC must file an S-Corp election within two months and 15 days (~75 days total) of the date of formation for the election to take effect ...

Do SEP contributions get reported on w2?

Form W-2 reporting for SEP-IRA contributions SEP-IRA contributions are not included in an employee’s gross compensation on Form W-2 (e.g., wages, salary, ...

What is the average cost of small business insurance?

On average, small business owners can expect to pay around $63.53per month^for Public Liability insurance. From our analysis, we found that around 62% of ...

Why do I owe taxes on withholding?

In a nutshell, over-withholding means you’ll get a refund at tax time. Under-withholding means you’ll owe. Many people try to get as close as possible to ...

What is private lending in real estate?

Private money lending is when a private individual or small business loans another investor or investment company their own personal funds to use for inve...