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Can a non US citizen have a 401k?

The short answer is “yes.” While some people might believe retirement accounts are only available to citizens, non-citizens can have a 401(k) and a tradit...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

Can landlord have solo 401k?

ANSWER: Yes the IRS rules allow for participation in multiple 401k plans. Those that own multiple businesses need to be aware of the controlled group rule...

Can a broker prepare a sales agreement?

Typically, the buyer’s agent writes up the purchase agreement. However, unless they are legally licensed to practice law, real estate agents generally can...

What are the advantages of C corporations?

C corporations provide the following considerable advantages: Separate legal identity. Limited liability for the owners. Perpetual existence. Separation b...

Can you be self-employed with only one client?

Yes, in some cases you can. If you are just starting out working for yourself, then it is perfectly possible that you are self-employed but working for on...

How do I calculate depreciation on a company vehicle?

You need to determine the salvage value of the car and to subtract it from the vehicle price to determine straight-line depreciation. You then divide this...

Can you backdate an S Corp?

A corporation can file Form 2553 after the due date and still receive IRS approval to make the election retroactive to the beginning of the corporation’s ...

What happens if someone steals my Medicare number?

If someone calls you and asks for your Medicare Number or other personal information, hang up and call us at 1-800-MEDICARE (1-800-633-4227). If you suspe...

Where do I put 1099-NEC income on my 1040?

You’ll use the amount in Box 1 on your Form(s) 1099-NEC to report your self-employment income. Instead of putting this information directly on Form 1040, ...

How many years do points last on your licence?

four years Most points stay on your licence for four years from the date of the offence, although they are only active for the first three. For more serio...