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What is a good origination fee?

Average loan origination fees may range from 1% to6%, while some may go as high as 8%. They may vary based on your credit score and the duration of the lo...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

Is the income statement linked to the balance sheet?

The bottom line of the income statement is net income. Net income links to both the balance sheet and cash flow statement. Is the income statement prepare...

Is Rollover IRA considered income?

This rollover transaction isn’t taxable, unless the rollover is to a Roth IRA or a designated Roth account, but it is reportable on your federal tax retur...

Are books purchased for work tax deductible?

But unfortunately, books or educational materials you purchase for personal use aren’t tax deductible. Business expense: If you’re self-employed, expenses...

What happens to the equity in my house when I sell?

What happens to equity when you sell your house? When you sell your home, the buyer’s funds pay your mortgage lender and cover transaction costs. The rema...

Is LLC sole ownership?

An LLC is a legally separate business entity that’s created under state law. An LLC combines elements of a sole proprietorship, partnership, and corporati...

How do I get CP 575?

How to get a copy of my EIN Verification Letter (147C) from the IRS for my LLC? If you got your EIN Number online, you can download the CP 575 online. If ...

What does a profit and loss report show?

A profit and loss report, also known as an income statement, shows the profitability of your business over a specific period. It can cover any period of t...

Who are accountants customers?

Accountants and The 4 Buyer Types: The COMMODITY BUYER : Their focus is, obviously, on price. The PRODUCT BUYER : Their focus is on purchasing a state-of-...

What does it mean to be 70 years old?

It means you didn’t die of infectious diseases when young, car accidents, or a broken heart in your teens. It also means that your ex-spouse didn’t actual...