The Daily Horizon

Featured Article

What if Social Security makes a mistake?

If you get a benefit payment you believe was too little, call SSA at 800-772-1213 or visit a Social Security office. SSA will investigate the matter and c...

Read Full Article Browse global events

Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

Can I contribute to a 401k and a SEP IRA in the same year?

Answer: Yes – As long as the SEP IRA plan and the 401(k) plan are offered by separate companies. If you don’t own the company that pays you a W-2, you can...

Can strong winds damage car?

Wind. Wind itself won’t necessarily cause damage to your vehicle, but the debris it carries will. High winds carrying sticks, twigs, garbage and other ite...

Are CDs tied to the stock market?

Although your CD is linked to the market, returns on it are considered interest. You will likely have to pay income taxes instead of the much lower long-t...

What happens when you transfer from a community college to a university?

2 years at a community college + 2 years at a university = 4 years (bachelor’s degree) Students will attend a community college to complete lower division...

Why there is a need for adjustments before the preparation of financial statements?

Adjusting entries are necessary to update all account balances before financial statements can be prepared. These adjustments are not the result of physic...

What is general or nominal ledger?

The nominal ledger (also commonly referred to as the general ledger) to is the main area where all of your accounting transactions are held. The ledger co...

Would an individual firm continue to produce in the long run if economic profits are zero?

The process of firms leaving Industry B and entering A will continue until firms in both industries are earning zero economic profit. That suggests an imp...

Is there a penalty for cashing out 401k during Covid?

Individuals affected by COVID-19 can withdraw up to $100,000 from employee-sponsored retirement accounts like 401(k)s and 403(b)s, as well as personal ret...

How do I file a 1099-MISC in PA?

If you want to file paper copies of 1099, you must attach a copy of Form 1096 and REV-1667, the Annual Withholding Reconciliation Statement, while sending...