February 17, 2012This is always a key question during tax season. While most income received is taxable and must be reported on your federal income tax return, there are some instances when income may not be taxable. To help you out, the IRS has provided the following list of items that are NOT included as taxable income:Adoption expense reimbursements for qualifying expensesChild support paymentsGifts, bequests, and inheritancesWorkers' compensation benefits (some exceptions may apply; see Publication 525, Taxable and Nontaxable Income)Meals and lodging for the convenience of your employerCompensatory damages awarded for physical injury or physical sicknessWelfare benefitsCash rebates from a dealer or manufacturerFor the complete article on taxable versus non-taxable income, download and review the IRS’ detailed guide—IRS Publication 525.
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Having a remote workforce can be challenging, especially if you are trying to build a positive, collaborative work environment. So, how do you create a sense of comradery when you have staff in remote locations? These tips can help:
If you are expecting a refund this year, you may be tempted to splurge on something not-so-practical. Before you do, take some time to think about ways to use your refund to bolster your financial health. We’ve put together a few ideas for you to consider:
Once your taxes have been filed, first, take a moment to breathe a big sigh of relief…and then enjoy some Tax Day (April 15, 2019) discounts. There’s nothing like a good deal to take the sting out of tax obligations. Below, we’ve compiled a short list of best food and drink deals, taken from offer.com.