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When do I need to file Form 2553 for S Corp?

You must file Form 2553 within two months and 15 days of the beginning of the tax year that you want your S corp tax treatment to start. For example, if y...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

Are retirement savings invested?

The money can be invested in a number of investments, including annuities or high-return assets such as stock funds, and you won’t have to pay taxes until...

Can there be two borrowers on a loan?

A joint loan or shared loan is credit made to two or more borrowers. All borrowers are equally responsible for repaying the loan, and every borrower typic...

What does the phrase boiler room mean?

A boiler room is a place or operation—usually a call center—where high-pressure salespeople call lists of potential investors (“sucker lists”) to peddle s...

Can a co borrower refinance a mortgage?

Refinancing is a way to create a new mortgage loan and lower your interest rate and house payment. If you fear that a lender will deny your refinancing ap...

Will Social Security pay you retroactively?

The Social Security Administration will be able to pay retroactive benefits covering up to six months prior to the month you filed the application. Howeve...

Will my student loan be written off when I am 50?

Loans issued before 1998 have to be repaid directly to the Student Loans Company and can be written off at age 50. Once the earnings threshold has been cr...

Is profit margin more important than profit?

Because profit margin more accurately reflects long-term profitability and a business’s vulnerability to sudden increases in fixed costs (such as insuranc...

When you close credit card accounts what happens?

For starters, when you close a credit card account, you lose the available credit limit on that account. This makes your credit utilization ratio, or the ...

How do you say thank you long message?

Thank You God Quotes “Thank you God for everything in my life. “It’s really nice to wake up in the morning realizing that God has given me another day to ...