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When to file single member LLC tax return?

A new LLC with one owner (Single Member LLC) is formed under state law, and has an excise tax filing requirement for tax periods beginning on or after Jan...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

Can I declare house rent on my tax return?

House rent allowance (HRA) is a component of salary received towards the rent paid by the employee for residence. However, you can still claim the tax-exe...

What is a good monthly student loan payment?

Average student loan payment = $393/month. What is the monthly payment on $100000 student loan? Monthly payments on $100,000+ student loan debt Loan balan...

How do I set up a trust for my son?

Here are the steps to follow. Select a trustee. As stated above, when a grantor creates a trust, they must name a trustee. Decide the terms of the trust. ...

Do you have to pay capital gains tax on an inheritance?

Capital Gains Tax On Inheritance. When you inherit assets such as a property you may have to pay some tax. You will only have to pay inheritance tax on an...

What is contracting and sub contracting?

Definition of Terms:• Contracting or Subcontracting – refers to an arrangement whereby the principal agrees to farm out a job, work or service to a contra...

Is unsure a real word?

un-shōōr′, adj. not sure. —adj. Unsured′, not made sure. How do you use Unsure? Unsure sentence example Unsure whether to move away from him or verbally f...

Can a business write a personal check?

Getting Paid For a draw, you can just write yourself a check or electronically transfer funds from your business account to your personal one. A salary is...

What happens when the 0% APR period is over?

You’ll have to pay interest on any remaining balance If you’re carrying a balance once the 0% intro APR period is over, you’ll have to pay interest on tha...

What is illiquidity discount?

Illiquidity discount on value: You should reduce the value of an asset by the expected cost of trading that asset over its lifetime. • The illiquidity dis...