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What does it mean to dissolve a trust fund?

You can dissolve a revocable trust by removing assets from the trust, and signing the proper legal document, called a trust dissolution form, which you ca...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

How do you manage bills and expenses?

Here are seven steps to take to manage your money properly: Understand your current financial situation. Set personal priorities and finance goals. Create...

Why are VA loans so hard to get?

Perhaps the most attractive benefit of a VA loan is that a borrower can receive a mortgage without making a down payment towards the cost of the home. But...

How do you prepare financial consolidation?

In preparing consolidated financial statements, the financial. statements of the parent and its subsidiaries should be combined on a line. by line basis b...

Is sales tax payable an accrued expense?

Two common types of accrued liabilities concern sales taxes and payroll taxes. These costs accrue—meaning the amounts accumulate over time—and then they a...

Is an easement a capital asset?

Easement: An intangible capital asset that reflects the purchased right to use land without ownership. Permanent easements are recorded as land. Temporary...

Do businesses use cash flow statements?

A cash flow statement tells you how much cash is entering and leaving your business in a given period. Along with balance sheets and income statements, it...

Will my State Pension be affected if I work?

Claiming State Pension while you work Any money you earn will not affect your State Pension, but it may affect your entitlement to other benefits such as ...

Are Roth IRA contributions subject to penalty?

You can withdraw Roth IRA contributions at any time with no tax or penalty. If you withdraw earnings from a Roth IRA, you may owe income tax and a 10% pen...

Do you have to claim credit on taxes?

Tax credits reduce the amount of income tax you owe to the federal and state governments. In most cases, credits cover expenses you pay during the year an...