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Why did I get a letter from the State of California?

Why you received this notice This letter is a reminder to file your 2017 tax year information returns with us if you have a filing requirement. We receive...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

Do retailers have high inventory?

High volume, low margin industries—such as retailers—tend to have the highest inventory turnover. High inventory turnover can signal an industry as a whol...

What is a good yearly profit for a small business?

8 Small Business Revenue Statistics Small businesses with no employees have an average annual revenue of $46,978. The average small business owner makes $...

What is the net income of the company for a financial year?

Net income is the total amount of money your business earned in a period of time, minus all of its business expenses, taxes and interest. It measures your...

What is considered capital income?

Capital gains are the profits from the sale of an asset — shares of stock, a piece of land, a business — and generally are considered taxable income. How ...

Does C Corp Need board of directors?

C corporations and S corporations have no choice but to elect a board of directors. Sole proprietorships and LLCs are not required to have a board of dire...

Are fire companies tax exempt?

There are several financial benefits as well. As a tax-exempt organization, your Fire Corps program may become eligible for state and federal exemptions f...

Will the IRS fix my return if I made a mistake?

If the due date for filing your tax return has passed, you can submit an amended tax return to correct most mistakes. If you realize you made a mistake bu...

Can my sister assume my mortgage?

You can legally take over a mortgage by assuming the original loan, provided you meet the bank’s requirements. An “assumable” loan is secured by a mortgag...

Why you should not invest in 529?

A 529 plan could mean less financial aid. The largest drawback to a 529 plan is that colleges consider it when deciding on financial aid. This means your ...