Gross income is defined at 26 USC §61 as “all income from whatever source derived.” The Tax Code goes on to exclude a number of items. Here are 50 sources of money and benefits that aren’t taxable for federal income tax purposes.
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What To Consider Before Paying Christmas Bills With A Tax Refund Loan
Making last minute Christmas purchases? If you’re planning on paying your Christmas bills with your tax refund check, you may want to think again: the
Read MoreAs ITIN Numbers Expire, IRS Says To Renew Now To Avoid Refund Delays
Time is running out for many ITIN holders who need to file a federal income tax return in 2017 and want to avoid a long
Read MoreIRS Announces 2017 Mileage Rates For Taxes, Reimbursement Rates May Differ
The Internal Revenue Service (IRS) has issued the optional standard mileage rates for 2017.
Read More12 Tips For Making Your Charitable Donation Tax-Deductible
Feeling generous? Here are 12 tips to keep in mind to make sure your charitable donations are tax-deductible.
Read MoreForget The Turkey: Lame Duck Congress Could Let A Number Of Tax Breaks Expire In 2016
While it’s not likely that Congress will get any real business done between now and the end of the year, when it comes to tax, there are a number of tax provisions (more than 40) that are set to expire at the end of 2016. Here’s a look at some.
Read MoreTrump Says No To Presidential Salary: Could You Decline Your Pay & Cut Your Tax Bill?
President-elect Donald Trump has said he won’t pocket his presidential salary. How much is he giving up? And could you do the same and save on taxes?
Read MoreOn Veterans Day, A Look At Special Tax Rules, Including Tax Breaks, For The Military
Military families face a special set of challenges all year round – and that doesn’t get any easier at tax season. The tax rules that apply to current and retired military can be somewhat confusing. Here’s a quick look at what you need to know.
Read MoreIRS Announces 2017 Tax Rates, Standard Deductions, Exemption Amounts And More
The Internal Revenue Service (IRS) has announced the updated numbers for 2017. You’ll find the 2017 tax rates, standard deductions, personal exemptions, and more here.
Read MoreI Said I Wouldn’t But I Did: I Bought A House
I bought a house today. Yes, after I said I hoped never to buy a house again. Here’s why I did it and why my advice about homebuying and taxes, as well as renting, still hasn’t changed.
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