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Can a UGMA account be used as a custodial account?

UGMA/UTMA brokerage accounts can make sense when saving and investing on behalf of a minor, but there are some important things to know about the accounts...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

What is the difference between a general contractor and a residential contractor?

Generally speaking, a general contractor is someone who manages a team of subcontractors to help do various types of construction projects in your home. A...

Is North America part of Europe?

North America is the third-largest continent by area, following Asia and Africa, and the fourth by population after Asia, Africa, and Europe. Do Europeans...

Does my trust need to file a tax return?

A: Trusts must file a Form 1041, U.S. Income Tax Return for Estates and Trusts, for each taxable year where the trust has $600 in income or the trust has ...

How do I avoid the look-back period for Medicaid?

The best way to avoid violating this period and receiving a penalty of Medicaid ineligibility is to consult a Medicaid planner before gifting or transferr...

How is Form 1099-B used on a tax return?

How Form 1099-B is used 1 You pay capital gains taxes with your income tax return, using Schedule D. 2 The data from Form 1099-B helps you fill out Sched...

Is a stock dividend accounted for like a stock split?

Therefore, in this example, an investor who owned 100 shares in a company will own 105 shares once the dividend is executed. But the total market value of...

Can you divorce and keep the house together?

It’s not unusual for spouses to continue owning the family home together after a divorce, especially where kids are involved. For example, if one of you w...

Can married couples have the same credit card?

Couples can make one another an authorized user on their credit card accounts. The authorized spouse gets his or her own card to use, but the primary acco...

What happens to the dollar when interest rates fall?

Generally, higher interest rates increase the value of a country’s currency. Conversely, lower interest rates tend to be unattractive for foreign investme...