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Can you be a self employed mechanic?

If you like working with cars, starting your own business as a car mechanic is probably an appealing idea. There are many perks of working as a self-emplo...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

What is the federal income tax rate for businesses?

21 percent Under current law, corporations in the United States pay federal corporate income taxes levied at a 21 percent rate plus state corporate taxes ...

How does 401k work for employer?

A 401k is an employer-sponsored retirement account. It allows an employee to dedicate a percentage of their pre-tax salary to a retirement account. These ...

How do you account for common stock issued?

The entry to record the issuance of common stock at a price above par includes a debit to Cash. Cash is increased (debit) by the issue price. The journal ...

Does disability affect your credit?

How Do Disability Benefits Affect Your Credit? Your credit report does not list income information, so receiving Social Security disability benefits will ...

What does debit mean in a journal entry?

A debit is an accounting entry that creates a decrease in liabilities or an increase in assets. In double-entry bookkeeping, all debits must be offset wit...

Can you roll old 401k into new 401k?

A direct 401(k) rollover gives you the option to transfer funds from your old plan directly into your new employer’s 401(k) plan without incurring taxes o...

What is a good days sales in accounts receivable?

It varies by business, but a number below 45 is considered good. It’s best to track the number over time. If the number is climbing, there may be somethin...

Does the Green Homes Grant apply to new builds?

The Green Homes Grant scheme is closed to new applications. If you already have vouchers for energy efficiency measures, including insulation, you can sti...

Why gross margin is calculated?

Gross profit margin is a metric analysts use to assess a company’s financial health by calculating the amount of money left over from product sales after ...