Taxable Income

Are Transportation Fringe Benefits Subject to Income Tax?

You may receive certain fringe benefits at work to compensate for commuting or parking costs, including direct reimbursements and transit…

6 days ago

State Income Tax Breaks in Pennsylvania

You generally have to file a Pennsylvania state income tax return if you were a resident, nonresident or part-year resident…

2 months ago

Registration Requirements for Corporations in South Carolina

To form a corporation in South Carolina, you need to file your articles of incorporation with the South Carolina Secretary…

2 months ago

Using Prior Year Capital Losses to Reduce Your Taxable Income This Year

If you lost money on the sale of investments or other capital assets in a prior year, you may be…

3 months ago

What “Other Income” Has to Be Included on Your Tax Return?

As a general rule, all the income you receive in the form of money, property, or services is subject to…

7 months ago

Can the Members of an LLC Pay Themselves Salaries or Do They Have to Take Distributions?

How the members of a limited liability company (LLC) are compensated for their services and how they are taxed depends…

8 months ago

Guide to the 2009 Tax Brackets

Guide to the 2009 Tax Brackets Benjamin Franklin may have said it best "'In this world nothing can be said…

2 years ago

Net Operating Losses and U.S. Income Taxes

A net operating loss (NOL) for tax purposes, occurs when your deductions for a year are greater than your taxable…

3 years ago

Income Tax Consequences of Lump Sum Alimony Payments

Generally, alimony payments can be deducted for federal income tax purposes by the spouse who pays the alimony. And the…

3 years ago

When Are You Considered Insolvent for Tax Purposes?

Normally, when debt is forgiven, the cancelled debt is considered taxable income for federal income tax purposes for the person…

4 years ago

This website uses cookies.