Tag Archives: taxable
Taxable or Not Taxable? – Some of these items may surprise you. Here are nine areas of income that are often questioned by taxpayers regarding their taxability. Some items are, others are not. Sometimes the taxable nature of an item depends on other things. Here is what you need to know. There are a number of areas in the tax code that cause confusion as to the taxability of money …Read More
Effectively using your investment losses can make a big impact in your taxable income. Why? These losses could offset income that is barely taxed, or it could offset income taxed at 39.6% or higher! Here are some ideas to make those losers into winners on your tax return. Understanding the rules surrounding investment losses can really help minimize your tax obligation each year. This is because investment gains and income …Read More
The taxability of Social Security Benefits can be confusing. In fact the taxable nature of your benefits should include a discussion of benefit reductions when you decide to receive these benefits prior to your full retirement age. Here is what you need to know. When it comes to retirement many Americans believe they can count on their full Social Security benefits as a core element of income. You can imagine …Read More