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What is the minimum income to qualify for Social Security?

It takes a minimum of 40 work credits to qualify for Social Security retirement benefits. In 2017, you need $1,300 in earnings to qualify for a single cre...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

Are relocation expenses paid by employer tax deductible?

Are Relocation Expenses for Employees Taxable When Paid by an Employer? The short answer is “yes”. Before Congress enacted the Tax Cuts and Jobs Act of 20...

Is fuel considered a cost of goods sold?

Cost of Goods Sold is an account in the Chart of Accounts that is a specific type of expenditure. Construction businesses may have many COGS accounts, ran...

Does a Roth IRA expire?

Once the five-year period has expired, the account holder can withdraw funds from the Roth IRA tax-free even before reaching age 59 ½. In this situation, ...

What are the things you need to consider before buying a franchise?

Before choosing a franchise, take the time to consider these 10 vital signs that the company is the right fit for you. Proven sales record. Growing market...

Can you use straight-line depreciation for tax purposes?

Although some companies use the straight-line method for tax depreciation, it is not commonly used because it recognizes less depreciation expense in the ...

Can I borrow from IRA without penalty?

If you’re 59½ or older, you can take money out of your traditional IRA, no problem and no penalty (if you deducted your original contributions, you’ll owe...

Can Self-Employed use per diem for lodging?

Self-employed individuals and employees can only use the per diem method for meal and incidental expenses, not lodging. The per diem rates for travel can ...

What does monetary neutrality mean?

What Is the Neutrality of Money? The neutrality of money, also called neutral money, is an economic theory stating that changes in the money supply only a...

Why is my electricity bill so high with solar?

2) You’re simply using more electricity than you were previously. Solar can offset the daytime energy usage in your home – but if you simply increase your...