Breakdown of Taxable vs. Non-Taxable Income

Author: External Author | | Categories: Accounting Firm , Tax Preparation Services , Tax Services

Income isn't just that paycheck your employer hands over to you periodically. It derives from numerous sources. The Internal Revenue Service (IRS) pretty much wants its share whenever money changes hands, whether it's for services rendered or due to savvy investment choices.

It's usually taxable if you have money today that you didn't have yesterday, but "usually" is the operative word here. Some money does escape the tax net.

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Original Article Source Credits:   The Balance ,

Article Written By:  Beverly Bird

Original Article Posted on:  March 14, 2022

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