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Can I write off personal business expenses?

Generally, you cannot deduct personal, living, or family expenses. However, if you have an expense for something that is used partly for business and part...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

Can Vanguard Federal Money Market Fund lose money?

Vanguard Cash Reserves Federal Money Market Fund and Vanguard Federal Money Market Fund: You could lose money by investing in the Fund. Although the Fund ...

What is a Schedule M-1?

Schedule M-1 is the section of the Form 1065 – U.S. Return of Partnership Income where the entity reconciles the income that the partnership is reporting ...

What are the boxes on the W-2 form?

See Form 1040 instructions to determine if you’re required to complete Form 8959. Box 6 — Shows the amount of Medicare tax withheld. This amount includes ...

Can you reopen a credit card closed by creditor?

It may be possible to reopen a closed credit card account, depending on the credit card issuer, as well as why and how long ago your account was closed. B...

What happens at the end of an equipment lease?

At the end of the lease, you typically have the option to purchase the equipment at its fair market value, as determined by the leasing company, renew the...

What types of questions should I ask in an internal audit?

Common questions for internal audit interviews Why did you apply for this position? Why are internal audits necessary? Explain the steps to prepare for an...

Do old missed payments affect credit rating?

A late payment can stay on your credit reports for up to seven years and could impact your credit scores during the entire period it’s there. Late payment...

What is required to get an SBA loan?

Eligibility requirements Operate for profit. Be engaged in, or propose to do business in, the U.S. or its territories. Have reasonable owner equity to inv...

What do I do if I have duplicate charges?

If your debit card gets charged twice, contact the merchant responsible for the double charge and explain the situation. You can also contact your bank to...